- Ethena Labs has proposed to the USDe community that SOL be added to its mix of collateral.USDe is unique insofar that it maintains $1 peg with collateral, hedged trades, and risk-managed reserves.
USDm stands apart from traditional stablecoins like Tether’s (USDT) or Circle’s (USDC) because it functions as a synthetic stablecoin rather than being backed by real money at a 1-to-1 ratio. Instead, it maintains its $1 value through collateralizing other stablecoins and employing a hedged cash-and-carry strategy. This method involves taking futures positions with substantial open interest to help stabilize the value, all while being backed by a reserve fund that helps manage risks in unpredictable market situations.
Lately, Ethena revealed that they set aside $46 million from their reserve fund to invest in tokenized real-world assets within BlackRock’s BUIDL, Mountain’s USDM, Superstate’s USTB, and Sky’s USDS. This move mirrors the growing trend in DeFi, focusing on generating returns through tokens backed by tangible assets.
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2024-10-14 08:04