Shift into Ethena

Say goodbye to having to do multiple complex transactions, going to multiple interfaces, and hello to Shifts with ShapeShift.

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What is Ethena

Ethena is a DeFi platform that issues USDe, a synthetic, yield-bearing stablecoin designed to hold its dollar peg through delta-neutral hedging strategies. Governance and utility are driven by the ENA token, giving holders control over risk parameters and fee revenue. By combining onchain collateral with perpetual futures, Ethena creates a capital-efficient alternative to fiat-backed stablecoins.

USDe in One Click

ShapeShift’s smart-routing engine constantly aggregates liquidity across top DEXs and pools, crunching real-time price and gas data to uncover the cheapest path for swapping ENA and USDe. With one click, you tap into optimized routes—no platform-hopping or manual arbitrage needed. Trades execute on-chain in seconds with slippage protection, so you always get the dollar-pegged USDe or governance ENA you want at the best rate.

Self-Custody Always

Your private keys stay locked in your wallet—ShapeShift never takes custody of your assets. There’s no account signup, no KYC asks, and no third parties touching your funds. Every swap happens directly from your address via audited smart contracts, giving you total control, privacy, and transparency. That’s true self-custody made simple.

It's easier with ShapeShift

OG DeFi Platforms

ShapeShift taps into OG rails like Uniswap, Aave, Compound, Lido, Pendle and much more, while Ethena’s USDe and ENA plug into that same permissionless liquidity—enabling seamless swaps, yield and governance across the onchain ecosystem.

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