Season One
Launching on August 14, 2025, Season One is Ethereal’s path from testnet to mainnet. It runs across four epochs (Epochs 1 through 4) that expand features and rewards as we prepare for full public access. For details on each epoch, read the Season One blog post.
As a thank you to early community members, all Season Zero depositors receive a 100% boost in Season One points (capped at the total Season Zero points, applied at the end of Epoch 1). Additional details will be shared before each epoch begins.
For more details, refer to the blog post.
Epoch 1
A short transitionary period between Season Zero and the launch of Ethereal Mainnet where users can continue earning Ethereal Points (0.01 daily points per eUSDe) and Ethena Rewards (30x multiplier). Existing eUSDe integrations within protocols like Aave, Euler, Strata, and others will continue to earn points during Epoch 1.
Epoch 2
The emphasis of Epoch 2 is on interacting with Ethereal mainnet. Users can earn Season One points through several core activities, including but not limited to trading, holding USDe margin, or referrals. As a reminder, all Season Zero participants are also eligible for a 100% boost on points earned in Season One (up to their Season Zero balance).
Epoch 3
Public beta for Ethereal - all users are eligible to earn Ethereal Points, USDe rewards, and Ethena Rewards.
Epoch 4
Additional features are incorporated into Season One as they’re supported on Ethereal, including:
New pairs and advanced trading features
Integrated money markets
Community LP vaults
Other ways to earn using Ethereal
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