@Ethena_Labs’ innovative stablecoin, $USDe, has reached a new milestone with a total supply of $3.65 billion, driven by strong demand for its funding rate yield.

This growth highlights the increasing confidence in $USDe, as 75% of the coin’s supply is now staked, solidifying its stability. Since its launch, $USDe has consistently maintained its 1:1 peg within a tight 1% range, further boosting its reliability.

In just a few months, Ethena Labs has quickly emerged as a key player in the DeFi ecosystem with its rapidly growing product. $USDe, a scalable crypto-native stablecoin, is designed to facilitate internet money and has already reached $3 billion in total value locked (TVL). This impressive growth has placed $USDe among the top stablecoins, currently ranking 4th in the market.

Backed By Ethereum And Bitcoin 

Backed by crypto assets like Ethereum (ETH) and Bitcoin (BTC), $USDe is a synthetic dollar built on the Ethereum blockchain. It uses delta-hedging strategies to maintain its dollar peg, ensuring its stability even in volatile markets. These strategies involve taking offsetting positions in derivatives and futures markets on centralized exchanges (CEX), keeping

One of the most innovative aspects of $USDe is its staking mechanism. Users can stake $USDe to receive $sUSDe, a yielding asset that benefits from both Ethereum staking rewards and profits from the derivatives market’s funding spreads. As the value of $sUSDe grows, stakers earn passive returns, positioning $USDe as a key player in the decentralized finance space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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