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Ethereal is a decentralized exchange that provides deep liquidity, ultra-fast execution, and 100% non-custodial security, powered by Ethena and USDe. USDe deposits can be cross-chain through LayerZero OFT, enabling one-click deposits from any supported chain, with users able to earn rewards on their full margin balance via Ethena. The protocol is vertically integrated, offering gasless orders, one-click trading, and the lowest on-chain trading fees to maximize capital efficiency without third-party custodians.
AI named Ethereal in February 2026.