$ENA 's USDe Backing Update: July 💪💥Great news, everyone! USDe's backing is looking stronger than ever. 💻👀

Here's the breakdown: 👇

(1) Total USDe supply: $3.401 billion

(2) Custodied assets: A solid $3.374 billion, split between Copper ($1.819 billion), Ceffu ($1.554 billion), and Cobo ($5.25 million).

(3) Assets in mint/redeem: $30.02 million

(4) Reserve Fund: $45.45 million

That means the total backing, including the Reserve Fund, is 101.55% of the USDe supply. This is fantastic! It shows #Ethena is committed to maintaining a healthy reserve and ensuring the stability of #USDe .

And here's even more good news: 🌞Ethena just successfully processed over $50 million in redemptions overnight - the largest to date - without any issues, according to Guy Young Ethena's Founder. 💪

This is a testament to the platform's resilience and commitment to its users. Let's keep the momentum going! 📈 DYOR! #USDe #Ethena #Altcoins