Ethena USDe-USDT pegging discussed...community skeptical

A proposal to hardcode the Ethena (ENA) stablecoin USDe to be pegged to USDT on the AAVE price feed has been met with community backlash, Cointelegraph reports. The proponents explained that unlike USDT, USDe is a synthetic dollar stablecoin backed by on-chain assets and derivatives, so a 5% drop in price could put more than $300 million in USDe-backed loans on Abe at risk of liquidation. However, Abe users are skeptical of the proposal, saying it's not a fundamental de-pegging solution. The proposal is in the early stages of discussion and has not yet been scheduled for an official vote.