Ethena Pay has introduced Earn+, a new savings feature that routes a portion of users’ dollar balances into an Upshift vault managed by Steakhouse, which executes yield strategies using Aave V4 lending markets on Avalanche. The launch, announced on October 28, 2026, builds on Ethena Pay’s app that became available in roughly 50 countries in September.
The feature offers higher rewards without mandatory lock-ups. Withdrawals are processed within 24 hours and returned to the user’s dollar balance. Deposit limits are tiered: standard users can allocate up to $20,000, Pro users up to $50,000, and VIP users up to $200,000.
Operationally, Upshift provides deposit infrastructure and holds assets in the vault, while Steakhouse manages the yield strategy. The underlying Aave V4 deployment on Avalanche uses a Hub and Spoke architecture: liquidity hubs pool deposits, and spokes operate as borrowing markets. On Avalanche, the strategy supplies USDe and borrows USDT, allowing shared liquidity across markets.
Aave has framed the Earn+ launch as part of its effort to bring onchain yield into the mainstream and reinforce its position in decentralized finance. By enhancing reward structures, the integration may attract new and existing users, potentially increasing liquidity and trading activity across the Aave and Ethena ecosystems.
