Ethena

Field	Value
Module	almanak.connectors.ethena
Protocol kind	Lending
Aliases	N/A

Supported Chains And Intents

Chain	Family	Supported Intents
Ethereum	EVM	STAKE, UNSTAKE

API Reference

almanak.connectors.ethena

Ethena Connector.

This module provides an adapter for interacting with Ethena synthetic dollar protocol.

Ethena is a synthetic dollar protocol supporting: - Stake USDe to receive sUSDe (yield-bearing) - Unstake sUSDe to receive USDe (with cooldown period)

Supported chains: - Ethereum (full staking + unstaking)

sUSDe is an ERC4626 vault token that accrues yield from delta-neutral strategies.

Example

from almanak.connectors.ethena import EthenaAdapter, EthenaConfig

config = EthenaConfig( chain="ethereum", wallet_address="0x...", ) adapter = EthenaAdapter(config)

Stake USDe to receive sUSDe

result = adapter.stake_usde(amount=Decimal("1000.0"))

EthenaAdapter

EthenaAdapter(
    config: EthenaConfig,
    token_resolver: TokenResolver | None = None,
)

Adapter for Ethena synthetic dollar protocol.

This adapter provides methods for interacting with Ethena: - Stake USDe to receive sUSDe (yield-bearing vault token) - Unstake sUSDe to receive USDe (requires cooldown period)

Note: sUSDe is an ERC4626 vault. Unstaking has a cooldown period (typically 7 days) before assets can be withdrawn.

Example

config = EthenaConfig( chain="ethereum", wallet_address="0x...", ) adapter = EthenaAdapter(config)

Stake USDe to get sUSDe

result = adapter.stake_usde(Decimal("1000.0"))

Start cooldown for unstaking

result = adapter.unstake_susde(Decimal("1000.0"))

Initialize the adapter.

Parameters:

Name	Type	Description	Default
config	EthenaConfig	Adapter configuration	required
token_resolver	TokenResolver | None	Optional TokenResolver instance. If None, uses singleton.	None

approve_usde

approve_usde(amount: Decimal) -> TransactionResult

Build an approval transaction for USDe to sUSDe contract.

This must be called before staking to allow the sUSDe contract to transfer USDe from the user's wallet.

Parameters:

Name	Type	Description	Default
amount	Decimal	Amount of USDe to approve	required

Returns:

Type	Description
TransactionResult	TransactionResult with approval transaction data

stake_usde

stake_usde(
    amount: Decimal, receiver: str | None = None
) -> TransactionResult

Build a stake transaction to deposit USDe and receive sUSDe.

Deposits USDe into the sUSDe ERC4626 vault to receive yield-bearing sUSDe.

Parameters:

Name	Type	Description	Default
amount	Decimal	Amount of USDe to stake	required
receiver	str | None	Address to receive sUSDe (default: wallet_address)	None

Returns:

Type	Description
TransactionResult	TransactionResult with transaction data

unstake_susde

unstake_susde(amount: Decimal) -> TransactionResult

Build a transaction to start cooldown for unstaking sUSDe.

Initiates the cooldown period for unstaking sUSDe. After the cooldown period (typically 7 days), the USDe can be withdrawn.

Parameters:

Name	Type	Description	Default
amount	Decimal	Amount of sUSDe assets to unstake (in USDe terms)	required

Returns:

Type	Description
TransactionResult	TransactionResult with transaction data

complete_unstake

complete_unstake(
    receiver: str | None = None,
) -> TransactionResult

Build a transaction to complete unstaking after cooldown period.

Completes the unstaking process after the cooldown period (typically 7 days) has elapsed. This withdraws the previously locked USDe to the receiver.

Parameters:

Name	Type	Description	Default
receiver	str | None	Address to receive the USDe (default: wallet_address)	None

Returns:

Type	Description
TransactionResult	TransactionResult with transaction data

compile_stake_intent

compile_stake_intent(
    intent: StakeIntent, market_snapshot: Any | None = None
) -> ActionBundle

Compile a StakeIntent to an ActionBundle.

This method converts a high-level StakeIntent into executable transaction data. For Ethena, this stakes USDe to receive sUSDe.

Parameters:

Name	Type	Description	Default
intent	StakeIntent	The StakeIntent to compile	required
market_snapshot	Any | None	Optional market data (not used for Ethena)	None

Returns:

Type	Description
ActionBundle	ActionBundle containing transaction(s) for execution

Raises:

Type	Description
ValueError	If amount="all" is not resolved before compilation

compile_unstake_intent

compile_unstake_intent(
    intent: UnstakeIntent,
    market_snapshot: Any | None = None,
) -> ActionBundle

Compile an UnstakeIntent to an ActionBundle.

This method converts a high-level UnstakeIntent into executable transaction data. For Ethena, this supports two phases via protocol_params:

Phase 1 (default, protocol_params={"phase": "cooldown"}): Initiates the 7-day cooldown by calling cooldownAssets(uint256). Phase 2 (protocol_params={"phase": "complete"}): Completes the withdrawal after cooldown by calling unstake(address). Only valid after cooldown has elapsed (use Anvil evm_increaseTime for testing).

Parameters:

Name	Type	Description	Default
intent	UnstakeIntent	The UnstakeIntent to compile	required
market_snapshot	Any | None	Optional market data (not used for Ethena)	None

Returns:

Type	Description
ActionBundle	ActionBundle containing transaction(s) for execution

Raises:

Type	Description
ValueError	If amount="all" is not resolved before compilation

EthenaConfig dataclass

EthenaConfig(chain: str, wallet_address: str)

Configuration for Ethena adapter.

Attributes:

Name	Type	Description
chain	str	Blockchain network (ethereum)
wallet_address	str	User wallet address

__post_init__

__post_init__() -> None

Validate configuration.

TransactionResult dataclass

TransactionResult(
    success: bool,
    tx_data: dict[str, Any] | None = None,
    gas_estimate: int = 0,
    description: str = "",
    error: str | None = None,
)

Result of a transaction build operation.

Attributes:

Name	Type	Description
success	bool	Whether operation succeeded
tx_data	dict[str, Any] | None	Transaction data (to, value, data)
gas_estimate	int	Estimated gas
description	str	Human-readable description
error	str | None	Error message if failed

EthenaEventType

Bases: Enum

Ethena event types.

EthenaReceiptParser

EthenaReceiptParser(chain: str = 'ethereum', **kwargs: Any)

Parser for Ethena transaction receipts.

Refactored to use base infrastructure utilities for hex decoding and event registry management.

Initialize the parser.

Parameters:

Name	Type	Description	Default
chain	str	Blockchain network (ethereum)	'ethereum'
**kwargs	Any	Additional arguments (ignored for compatibility)	{}

parse_receipt

parse_receipt(receipt: dict[str, Any]) -> ParseResult

Parse a transaction receipt.

Parameters:

Name	Type	Description	Default
receipt	dict[str, Any]	Transaction receipt dict	required

Returns:

Type	Description
ParseResult	ParseResult with extracted events

parse_stake

parse_stake(log: dict[str, Any]) -> StakeEventData | None

Parse a Deposit (stake) event from a single log entry.

parse_withdraw

parse_withdraw(
    log: dict[str, Any],
) -> WithdrawEventData | None

Parse a Withdraw event from a single log entry.

parse_unstake

parse_unstake(
    log: dict[str, Any],
) -> WithdrawEventData | None

Backward compatibility alias for parse_withdraw.

is_ethena_event

is_ethena_event(topic: str | bytes) -> bool

Check if a topic is a known Ethena event.

Parameters:

Name	Type	Description	Default
topic	str | bytes	Event topic (supports bytes, hex string with/without 0x, any case)	required

Returns:

Type	Description
bool	True if topic is a known Ethena event

get_event_type

get_event_type(topic: str | bytes) -> EthenaEventType

Get the event type for a topic.

Parameters:

Name	Type	Description	Default
topic	str | bytes	Event topic (supports bytes, hex string with/without 0x, any case)	required

Returns:

Type	Description
EthenaEventType	Event type or UNKNOWN

extract_stake_amount

extract_stake_amount(receipt: dict[str, Any]) -> int | None

Extract stake amount (assets deposited) from transaction receipt.

Parameters:

Name	Type	Description	Default
receipt	dict[str, Any]	Transaction receipt dict with 'logs' field	required

Returns:

Type	Description
int | None	Stake amount in wei if found, None otherwise

extract_shares_received

extract_shares_received(
    receipt: dict[str, Any],
) -> int | None

Extract sUSDe shares received from transaction receipt.

Parameters:

Name	Type	Description	Default
receipt	dict[str, Any]	Transaction receipt dict with 'logs' field	required

Returns:

Type	Description
int | None	Shares received in wei if found, None otherwise

extract_unstake_amount

extract_unstake_amount(
    receipt: dict[str, Any],
) -> int | None

Extract unstake amount (shares burned) from transaction receipt.

Parameters:

Name	Type	Description	Default
receipt	dict[str, Any]	Transaction receipt dict with 'logs' field	required

Returns:

Type	Description
int | None	Shares burned in wei if found, None otherwise

extract_underlying_received

extract_underlying_received(
    receipt: dict[str, Any],
) -> int | None

Extract underlying USDe received from withdrawal.

Parameters:

Name	Type	Description	Default
receipt	dict[str, Any]	Transaction receipt dict with 'logs' field	required

Returns:

Type	Description
int | None	Assets received in wei if found, None otherwise

ParseResult dataclass

ParseResult(
    success: bool,
    stakes: list[StakeEventData] = list(),
    withdraws: list[WithdrawEventData] = list(),
    error: str | None = None,
    transaction_hash: str = "",
    block_number: int = 0,
)

Result of parsing a receipt.

unstakes property

unstakes: list[WithdrawEventData]

Backward compatibility alias for withdraws.

to_dict

to_dict() -> dict[str, Any]

Convert to dictionary.

StakeEventData dataclass

StakeEventData(
    sender: str,
    owner: str,
    assets: Decimal,
    shares: Decimal,
)

Parsed data from Deposit event (stake operation).

to_dict

to_dict() -> dict[str, Any]

Convert to dictionary.

WithdrawEventData dataclass

WithdrawEventData(
    sender: str,
    receiver: str,
    owner: str,
    assets: Decimal,
    shares: Decimal,
)

Parsed data from Withdraw event (cooldown or final withdrawal).

to_dict

to_dict() -> dict[str, Any]

Convert to dictionary.

__getattr__

__getattr__(name: str) -> Any

PEP 562 lazy attribute access.