Ethena Labs has introduced its synthetic dollar, USDe, as margin collateral on the cryptocurrency exchange Bybit. This move comes amidst the growing popularity of the USDe token. Traders on Bybit can now utilize USDe as margin collateral with an annual percentage rate (APR) of up to 20%, offering increased efficiency and flexibility in trading strategies. Bybit's CEO, Ben Zhou, highlighted the benefits of this integration. Additionally, users can earn rewards on their collateral, as explained by Guy Young, the founder of Ethena Labs. With a total value locked (TVL) of over $3.2 billion, Ethena's USDe has shown resilience in maintaining a high yield. The integration aims to further enhance the growth of the synthetic dollar. Young emphasized the transparency of USDe's yield generation, which involves staking returns and shorting Ether perpetual futures contracts. Read more AI-generated news on: https://app.chaingpt.org/news