The largest crypto derivatives exchange, Deribit, announced its integration of Ethena’s synthetic dollar USDe as margin collateral on Friday. This means that users will be able to earn rewards for holding USDe and use it as collateral for derivatives in a cross-collateral pool. Deribit’s goal is to include USDe in its cross-collateral pool by early January, subject to regulatory approval.
Ethena Labs’ Guy Young said that this integration could unlock new structured product use cases and attract both traditional finance and crypto-native trading firms. The ENA price has increased significantly following this announcement, and the trading volume has risen by 78%.
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<p>The post Deribit Launches USDe as Rewarding Margin Collateral with Ethena first appeared on CoinBuzzFeed.</p>
