According to TechFlow, Ethena Labs announced the launch of the Ethena reward asset proposal mechanism, inviting institutions to apply for the allocation of its $45 million reserve fund and USDe's approximately $250 million in liquidity cash support.
Securitize (BlackRock's BUIDL distributor) and SteakhouseFi have submitted early applications. The application assets must be denominated in US dollars and generate income. Among them, BlackRock's BUIDL fund applied to Ethena for a reserve allocation of $34 million through its distributor Securitize. According to the proposal, the BUIDL fund recommends allocating $18 million in USDT and $15 million in DAI from Ethena's $45 million reserves.
At the same time, Ethena launched a risk committee governance structure, which is composed of industry-leading professional risk consulting companies and is responsible for risk management of the Ethena ecosystem. The committee's responsibilities include diversification of hedging venues, support for asset type review, and new venue review.