Ethena Pay Adds Earn+ Through Aave V4 Lending on Avalanche

TL;DR: Ethena Pay’s Earn+ routes deposits into an Upshift vault curated by Steakhouse and using Aave V4 on Avalanche. The layered structure matters when assessing rewards and withdrawals.
Ethena Pay has added an optional rewards product that connects a consumer-facing dollar balance to an onchain lending strategy. Aave Labs described the Earn+ integration on October 28, identifying separate providers for the app, vault infrastructure, strategy and lending markets.
That division of responsibili