Ethena, a stablecoin project by Ethena Labs, has rapidly emerged as a dominant player in the decentralized finance (DeFi) space, generating over $4 million for its treasury in just 1 week after launch. The project's native token, USDe, has seen a yield of 67%, outpacing most stablecoin returns and marking a significant milestone in the crypto industry. Ethena's performance has led it to become the highest-earning decentralized application (dapp) in the crypto sector, with weekly revenue reaching $6.8 million. This achievement places Ethena ahead of established DeFi products like Lido and Uniswap in terms of fees generated over the last 24 hours and ranks it as the third highest revenue app in crypto, trailing only behind Ethereum and Tron. The project's total value locked (TVL) stands at approximately $840M.