The Ethena community has put forward a proposal titled “Integrating Ethereal into Ethena’s Reserve Management Post-Launch,” as reported by Foresight News. This initiative aims to incorporate the decentralized exchange (DEX) Ethereal Exchange into Ethena’s reserve management system at launch. The integration seeks to create a fully on-chain trading platform for managing spot and derivative positions that support USDe. Additionally, the Ethena community stands to gain a 15% allocation of future Ethereal governance tokens.

Ethereal V1 is designed as an L3 EVM application chain tailored for the Ethena network, with a testnet launch anticipated in the fourth quarter. This architecture is optimized to leverage isolated block space and foster synergies within the Ethena ecosystem. In addition to its trading capabilities, Ethereal will enable the deployment of applications that utilize USDe, enhancing the core DEX with functionalities such as lending markets.