Usde Archives - Globe Insight

Experts worry Ethena’s Bitcoin-backing strategy for USDe could bring ‘contagion risks’

April 5, 2024 by Admin

CryptoQuant CEO Ki Young Ju has voiced concerns about Ethena’s recent decision to incorporate Bitcoin as a backing asset for its USDe synthetic dollar. On April 4, Ethena Labs revealed plans to onboard BTC as a backing asset for USDe to create a safer product for its users. The firm …

Ethena Onboards Bitcoin as Backing Asset to Make USDe ‘Safer’

April 5, 2024 by Admin

On Ethena, users can deposit stablecoins such as tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD) and mkUSD to receive Ethena’s USDe, which can then be staked. Unstaking takes seven days. The staked USDe tokens can be supplied to other DeFi platforms to earn additional yield. Source link

BitMEX co-founder believes this stablecoin could flip Tether one day

March 8, 2024 by Admin

Ethena, the protocol powering the USDe synthetic dollar, raked in $6.53 million in fees over the last 24 hours, cementing its position as the top fee-generating decentralized application (dApp) in the crypto space, according to data from DeFillama. Seraphim Czecker, Ethena Labs’ Head of Growth, shared insights from Token Terminal, …