Ethena Labs is hiring a

Web3 Senior/Staff DeFi Engineer

Ethena Labs is at the forefront of the next wave of DeFi, dedicated to building products for modern finance. Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money, USDe, alongside a globally accessible dollar savings asset, sUSDe.

Our core mission is to provide truly crypto-native financial solutions that are globally accessible and bridge the gap between TradFi and the digital asset economy. We believe in transparency, efficiency, and empowering both individuals and institutions with greater control over their assets.

Our flagship product, USDe, is a synthetic dollar backed by digital assets, and takes the novel approach of using a delta-neutral hedging strategy to maintain its peg. This provides a truly scalable and censorship-resistant digital dollar.

Building upon USDe, we offer sUSDe. sUSDe provides crypto-native rewards generated from funding rates in derivatives markets, offering an alternative to existing products tethered to the traditional financial system.

Furthermore, we are actively developing solutions to facilitate institutional adoption of digital assets. In partnership with Securitize and Blackrocks BUIDL fund, USDtb provides a more traditional, asset-backed stablecoin option, leveraging established financial infrastructure to appeal to institutional clients. Expanding on this, iUSDe is designed specifically for traditional financial institutions, incorporating necessary compliance features to enable them to access the crypto-native rewards our protocol generates, in an institutional-friendly manner.

Finally, our most ambitious undertaking to date is Converge, our joint blockchain initiative with Securitize. This hybrid blockchain is designed to be the nexus where DeFi meets the needs of CeFi and TradFi. Converge aims to be a primary issuance layer for tokenised assets, integrating seamlessly with existing DeFi protocols to provide institutions with an environment to participate in the decentralised economy.

Location: European or Asian Time Zone

What You'll Do

• Architect and deliver core DeFi protocols: including staking, stablecoin integrations, and liquidity systems, ensuring deployments are secure, gas-efficient, and aligned with product roadmaps
• Lead cross-chain infrastructure development in bridging, messaging, LayerZero/LZCompose, and paymasters to ensure seamless UX with high reliability across supported chains
• Partner with Security Engineering to design and deliver modern, robust multisig/on-chain monitoring and tooling solutions
• Enforce robust security practices by implementing audits, fuzzing, invariant testing, and incident playbooks with 100% patching of high-severity issues within industry timelines
• Collaborate with Trading & Risk Engineering to integrate market data, liquidity signals, and execution systems into DeFi flows, enabling safe automation of critical operations
• Own end-to-end lifecycle of DeFi products from whitepaper/spec to contract implementation, deployment, monitoring, and upgrades while maintaining 99.9% uptime for critical contracts
• Drive innovation in stablecoin infrastructure by delivering new products in partnership with external stakeholders
• Mentor junior and senior engineers, raising the team's DeFi depth and execution velocity while documenting learnings and establishing reusable frameworks

What We're Looking For

• DeFi Protocol Expertise: Deep knowledge of smart contract patterns, staking, AMMs, stablecoins, bridges, governance, and liquidation mechanics
• EVM Smart Contract Development: Proficiency in Solidity and EVM patterns with experience in advanced tools (Foundry, Tenderly, Slither, Echidna)
• Solana Smart Contract Development: Proficiency in Rust and Solana patterns with experience in advanced tools (Foundry, Tenderly, Slither, Echidna)
• System Design & Architecture: Ability to design scalable, gas-efficient, and upgradeable DeFi systems that balance modularity with reliability
• Security-First Engineering: Experience anticipating vulnerabilities and applying formal verification, audits, fuzzing, and invariant testing
• Cross-Chain Infrastructure: Practical experience with messaging protocols (LayerZero, Axelar, native bridges), paymasters, and multi-chain state sync

$180,000 - $230,000 a year