Ethena Labs
Execution Trader
Who We Are:
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.
What we are Doing:
Ethena Labs is actively building and deploying a suite of groundbreaking products designed to address key challenges and unlock new opportunities within the digital finance landscape.
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.
Through these offerings, Ethena Labs is not just creating new financial products; we are building the foundational infrastructure for a more open, efficient, and interconnected global financial system.
Join us!
The Role
As an Execution Trader within the Ethena trading team, you will contribute to a small group that manages the operations, trading and positioning of the backing assets of USDe. This includes the movement of collateral between custodians, operating an in-house automated execution platform, and communicating with key internal stakeholders. This role is one of high trust, demanding flexibility to respond to events in a 24/7 market place. You and your team’s execution outcomes are highly visible at the core of what drives Ethena’s products.
What You’ll Do
- Portfolio Management activities that contribute to the management of USDe’s backing assets, including spot digital assets, derivatives positions, as well as deployments in DeFi money markets.
- Execute trades efficiently using in house proprietary algorithms, adhering to strict risk parameters and market conditions.
- Collaborate with your peers to ensure seamless trading coverage principally during your locations working day (US or Asia), but also when the occasion requires it, in an extended time window aligning with the Head of Trading’s needs.
- Contribute to the creation and prioritisation of features requested of engineering to supplement and mature existing tooling.
- Monitor real-time market risks (liquidity, volatility, counterparty) and adjust positions to minimise exposure.
- Provide regular updates to the Head Trader on portfolio performance, trade outcomes, and market conditions.
What We’re Looking For
- An existing career currently sat in a senior trader level or higher within electronic or quantitative trading.
- Established professional experience in cryptocurrency markets (perpetual contracts and spot trading) using crypto exchange APIs and order execution workflows with at least two of the following exchanges: Binance, Bybit, Okx, Deribit, Bitget.
- Proficiency in Python for data analysis, trade evaluation, or backtesting (using Pandas, NumPy, or similar).
- Strong prioritisation and communication skills required for a high paced, high integrity and high outcomes environment.
Why Ethena Labs?
- Join a forward-thinking, crypto-native company with a mission to revolutionize decentralized finance.
- Work alongside a passionate and innovative team that values collaboration and creativity.
- Enjoy a flexible, remote-friendly work environment with opportunities for growth and learning.
If you subscribe to the mission of separating the dollar from the state, then we want to hear from you!
We look forward to receiving your application and will be in touch after having a chance to review.