Ethereal distributed additional invites and listed roughly 20 extra spots for new users via referral links. Interested users can claim these invites while the spots remain available to gain access to the platform.
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Ethereal is a decentralized spot and perpetuals exchange built on the Ethena Network, using USDe as native collateral. It combines a high-performance offchain order book and specialized sequencer with onchain settlement to deliver low-latency, non-custodial trading. The project ran a Season Zero pre-deposit program and launched a mainnet alpha in October 2025 with USDe-based trading.
10 events
Tracking since about 1 month ago
News (10)
Ethereal posted last week’s point totals, noting the distribution was smaller than usual. The team also confirmed that users can now earn Ethena points for activity on both Ethereal and Hyena, aligning incentives across related perpetuals products and broadening rewards for ongoing participation across trading and liquidity tasks as well.
Ethereal distributed a new round of points to participants, though many users reported lower-than-usual totals compared to prior periods. The points program remains active, indicating continued opportunities for ongoing engagement despite the smaller distribution this round.
Ethereal has launched Ethena Exchange Points, now live for users on the platform. By using Ethereal, participants can earn ENA through the points program tied to on-platform activity. This rollout highlights a collaborative campaign between Ethena and Ethereal, encouraging early usage while rewards accrue via the integrated points system today.
Ethereal distributed points for the previous week, with rewards favoring longer-held positions and liquidation events. Users were also advised to check parallel points tallies in HyEna, reflecting related criteria. The update clarifies how accrual is determined, helping participants tune strategies around position duration and risk management to optimize points over time.
The Ethereal points program has completed Cycle 12, distributing 200M points to more than 10k users as part of its ongoing rewards initiative. Balances in the Points section have been updated to reflect this cycle, providing a snapshot of allocations and progress for active participants ahead of upcoming cycles and potential reward conversions.
Ethereal distributed additional bonus points and reiterated its weekly Friday trading rewards. Participants should check balances for recent allocations as the program continues to reward weekly volume and engagement, which can influence leaderboard standings and any future benefits tied to points accrual within the platform’s ecosystem.
Ethereal has released the weekly points update.
Users can now view their current points in their profile.
Ethereal is a perp DEX being developed by the Ethena team.
A points program is live, with farming started 12 weeks ago.
OTC point pricing is around $0.01–$0.015 per point.
Access is invite-only.
Fees: 0% maker / 0.03% taker.
Recent daily volume averages $80M–$100M.
Ethereal distributes weekly trading points on Fridays for activity on its perpetuals platform.
Important events
Ethereal: Additional invites available (Other)
other · 8 days ago
Ethereal: Points update and Ethena rewards (Update)
update · 10 days ago
Ethereal: New points distribution live (Points
points program · 10 days ago
Ethereal: Ethena Points live (Points Program)
points program · 13 days ago
Ethereal: Points distributed (Points Program)
points program · 16 days ago
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