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Curated alternatives

Best Ethena alternatives

If you're comparing Ethena, start with Curve, Convex Finance, and Sperax. Qoory ranks alternatives from shared categories, live project signals, and enough prominence to avoid the bargain-bin dapp swamp.

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TVL
$4.3B
Market cap
$4.0B
X followers
0
GitHub
—

8 alternatives shown. Source project score: 158; minimum cohort score is enforced before indexing.

Shortlist

Ethena alternatives to evaluate

1
Curve

Stablecoin DEX with low-slippage swaps

DeFiDecentralized Finance (DeFi)Arbitrum EcosystemEthereum Ecosystem33 shared tags
TVL
$1.4B
Market cap
$312.4M
24h token
▼ 2.54%
Chains
28.0
2
Convex Finance

Maximize Curve yields with zero locking

DeFiDecentralized Finance (DeFi)Yield aggregatorEthereum Ecosystem33 shared tags
TVL
$491.6M
Market cap
$127.9M
24h token
▲ 7.72%
Chains
4.0
3
Sperax

Autonomous DeFi agents for self-optimizing portfolios

Stablecoin ProtocolDeFiArbitrum EcosystemEthereum Ecosystem32 shared tags
TVL
$553.6K
Market cap
$4.2M
24h token
▼ 0.77%
Chains
3.0
4
Usual

Redistributing value through stablecoin yields.

Stablecoin ProtocolDeFiDeFiStablecoin Protocol31 shared tags
TVL
$96.7M
Market cap
$15.7M
24h token
▼ 2.29%
Chains
3.0
5
Sky

Decentralized stablecoin savings and governance.

DeFiStablecoin ProtocolDeFiStablecoin Protocol29 shared tags
TVL
—
Market cap
$1.3B
24h token
▼ 5.57%
Chains
1.0
6
Inverse Finance

Fixed-rate lending and decentralized stablecoin protocol

DeFiDecentralized Finance (DeFi)Yield aggregatorEthereum Ecosystem28 shared tags
TVL
$24.2M
Market cap
$7.2M
24h token
▼ 0.64%
Chains
1.0
7
Aave

Decentralized lending and borrowing protocol

Stablecoin ProtocolDeFiDeFiStablecoin Protocol26 shared tags
TVL
$14.3B
Market cap
$1.4B
24h token
▼ 1.70%
Chains
27.0
8
Ethena USDe

Delta-hedged synthetic dollar with native yield

Avalanche EcosystemArbitrum EcosystemEthereum EcosystemMetis Ecosystem25 shared tags
TVL
$5.5B
Market cap
—
24h token
—
Chains
26.0