Ethena | +35% in stablecoin | Gem š
š Ethena is a project on #Ethereum backed by important funds and influencers.Ā
š #DeFi protocol aims to form a new algorithmic $USDe stablecoin that should solve 3 major problems of stablecoins:
1ļøā£ Censorship resistance: Does not use the fiat banking system
2ļøā£ Scalability: Doesn't require overcollateralization like $DAI
3ļøā£ Stability: Uses a delta-neutral strategy for collateralization
āļø #Ethena will issue USDe by placing half of the collateral in $ETH staking instruments and the other half in short positions, which will ensure that the value of the collateral grows. This is what allows the project to pay generous dividends to token stakers. Only in 10% of cases this algorithm turned out to be unprofitable š²
š Today, the Binance exchange has completed #Launchpool and listed the $ENA token for trading.
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