Best Ethena Alternatives in 2026

Liquid staking protocol for Ethereum offering stETH. The largest staking protocol by TVL, enabling users to earn ETH staking rewards while maintaining liquidity.

Solana liquid staking with MEV rewards. Stake SOL for JitoSOL and earn enhanced yields from both staking rewards and MEV tips redistributed to stakers.

Yield trading protocol enabling fixed yield strategies and yield speculation. Tokenize future yield from LSTs, stablecoins, and restaking positions.

Decentralized Ethereum staking protocol. Stake with as little as 0.01 ETH via rETH, or run a minipool node with 8 ETH. Truly permissionless validation.

Optimized DeFi lending protocol that improves rates over Aave and Compound by matching lenders and borrowers peer-to-peer. Universal lending network.

OG yield aggregator. yVaults auto-allocate deposits to highest-yielding strategies. Battle-tested smart contracts and DAO governance. Pioneered DeFi yield optimization.

Multi-chain yield optimizer. Auto-compounds LP rewards across 25+ chains. Set-and-forget vaults for DeFi yields. One of the most deployed protocols in crypto.

Ethereum restaking protocol where staked ETH secures additional services (AVSs). Earn extra yield on top of ETH staking rewards through restaking.

DeFi ecosystem with stablecoin (FRAX), liquid staking (frxETH/sfrxETH), and Fraxlend. Also building Fraxtal L2. Complex but high-yield DeFi strategies.

DeFi management and optimization platform. One-click strategies across Aave, Maker, Compound, and more. Debt refinancing, leverage management, and yield optimization.

Non-custodial Ethereum staking. Liquid staking via osETH, solo staking vaults, and operator marketplace. V3 architecture for customizable staking.

Liquid restaking protocol. Stake ETH for swETH, then restake for rswETH. Building Swell L2 for restaking-powered rollup. Earn staking + restaking + DeFi yields.

Intelligent DeFi vaults with off-chain strategy computation. Strategists manage vaults using ML models and quant strategies. Real Yield vaults on Ethereum.

Yield booster for Curve and Convex positions. Auto-compounds and concentrates rewards into higher-yielding positions. Part of the AladdinDAO ecosystem.