PANews reported on November 22 that Ethena Labs announced on the X platform that it has partnered with Nunchi, a Hyperliquid HIP-3 deployer. Nunchi is building perpetual contracts based on yield markets, allowing users to comment on RWA rates, dividends, ETH staking rewards, and more. A portion of Nunchi's total revenue will benefit the Ethena ecosystem; furthermore, if Nunchi issues tokens, it will airdrop them to the ecosystem.

All initial markets on Nunchi will use USDe as the quoted asset. Users trading on Nunchi can earn returns through USDe margin, thus offsetting transaction fees and funding rates. Users staking Nunchi HYPE LST nHYPE will be eligible for 20x Ethena rewards to help support the exchange's launch.