Ethena Pay's Earn+ Goes Live on Avalanche as Originals Series Debuts

Crypto sentiment turned defensive this week as the record $6.3 billion Binance hack dominated headlines, prompting calls for US oversight of offshore exchanges and forcing DeFi protocols into risk-off posture. Against that backdrop, Avalanche's activity centered on product rollouts rather than market moves: the chain's TVL held at $525.0 million, with $130.27 million in 24-hour DEX volume and modest token gains led by $PNG (+2.8%), $JOE (+1.3%) and $BTC.b (+1.0%).

Ethena Pay Launches Earn+ on Avalanche

Ethena Pay rolled out Earn+, a feature paying 12% rewards on dollar balances in a single tap, initially for Pro and VIP users before a wider rollout across the Avalanche-based app. Avalanche powers the product: eligible users deposit into a vault managed by Upshift and Steakhouse that runs an Aave v4 strategy on the network. team1 promoted the new yield feature alongside its other announcements on Oct. 28.

The launch lands as DeFi broadly reassesses collateral risk — Aave reopened frozen markets this week while blocking new collateral loans, and Maple locked $280 million in XRP collateral with maturities approaching. Aave V3 remains the largest protocol on Avalanche by TVL at $273.10 million, per ecosystem data.

Avalanche Originals Debuts

Avalanche's official account unveiled Avalanche Originals, a behind-the-scenes series profiling teams building real businesses on the network. Episode 1 was set for Oct. 28. team1 and team1-brasil both amplified the launch, with the latter retweeting Avalanche updates on the series and Vietnam's UniHack.

team1 also teased Vietnam's UniHack, describing 420+ builders participating. The hackathon push extends to Latin America, where team1-latam ran contract-development onboarding for November hackathons and promoted a Bolivian AfterHack Halloween meetup on Oct. 30. The same account highlighted Avalanche settlement talks and university sessions.

Eterna Opens Avalanche Deposits

Trading platform Eterna added direct Avalanche deposits for account funding, an integration avalanche-foundation amplified by retweeting the announcement on Oct. 28. The feature lets users move funds onto the platform through Avalanche rather than routing via other chains or stablecoin rails.

Team1 Channels Push Onboarding and Tokenization

The Team1 network kept up a steady stream of posts through Oct. 28–30. team1-usa promoted a Team1 break featuring Avalanche businesses and highlighted the Eurosystem's Pontes tokenization launch as part of shifting money infrastructure. team1-brasil flagged record US$1.05 trillion in annual debt interest payments, tying the macro figure to its Avalanche coverage. team1-latam opened its onboarding push with a workshop on Avalanche, wallets and Solidity ahead of November hackathons, and amplified posts on digital identity and AI.

The activity follows a stretch of institutional tokenization news on Avalanche, including Progmat's $2.7 billion Japanese securities move covered here on Oct. 28 and Lynq Network's ZeroBeta integration letting tokenized US Treasuries serve as loan collateral.

What to Watch

November hackathons in Latin America are the next dated milestones, with team1-latam running contract-development onboarding through the end of October ahead of those events. On the product side, Ethena Pay's Earn+ remains limited to Pro and VIP users, with a broader rollout across the Avalanche app still to come.