Ethereal Mainnet Alpha Goes Live: Will VCs Dominate Day 1 Access – How To Farm Ethereal Airdrop?

As the crypto market bounced back over the weekend, with Bitcoin reclaiming $110K and the combined market cap for crypto climbing back above $3.8T, sentiment has flipped back positive, and traders are back to seeking the best airdrop opportunities, with the Ethereal airdrop dominating headlines.

Ethereal is the first decentralized spot and perpetual DEX based on Ethena Ethena ENA $0.4679 3.83% Ethena ENA Price $0.4679 3.83% /24h Volume in 24h $407.38M Price 7d Learn more and is gaining attention with ENA up +4% in the past 24 hours.

Ethereal aims to fully utilize the power of Ethena crypto and its native stablecoin, USDe, within a high-performance on-chain finance environment to provide users with a one-stop shop for all their core DeFi needs in a single application.

Next week's Mainnet Alpha launch represents a major step towards Ethereal's ultimate vision to become the first DeFi everything app powered by USDe

Day 1 access is initially limited to the top 100 users currently on the mainnet waitlist pic.twitter.com/xVMBbH45oH

— Ethereal (@etherealdex) October 16, 2025

How to Farm the Ethereal Airdrop in Season 1, Epoch 2

The Ethereal Mainnet Alpha is launching today (October 20). Access will initially be limited to the top 100 users currently on the Ethereal mainnet waitlist. Waitlist position is a function of Season Zero participation, referral activity, and other on-chain/DeFi wallet metrics.

Members of the Ethereal team have stated that more users will be whitelisted for access as the rollout progresses in the weeks following Today’s launch.

With the Ethereal mainnet going live, Season One: Epoch 1 will officially come to a close as a result. Holders of eUSDe will continue receiving Ethereal points emissions until midnight on October 22.

This will see the beginning of Epoch 2, with point distributions generally occurring on a weekly cycle. Season One: Epoch 2 has been designated as the full period during which Ethereal remains in its initial alpha phase.

With the start of Epoch 2, whitelisted users will begin earning native USDe rewards on their full margin balance for the first time while also earning Ethereal airdrop points for trading activity.

The emphasis of Epoch 2 is on interacting with the Ethereal mainnet. Users can earn Season One points through several core activities, including but not limited to trading, holding USDe margin, or referrals.

Joining the Ethereal Discord and getting verified, and completing a subsequent list of tasks, is another way to gain Season One points that will count toward the upcoming Ethereal airdrop.

Ethereal DEX Airdrop – Join Early Waitlist

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