After the second quarter ENA airdrop is issued, Ethena has announced that it will launch a new stablecoin USDtb with BlackRock's tokenized fund 'BUIDL' as reserve assets, and it is now officially announced that USDtb is ready to debut next week!
The official announcement mentioned that this will be the stablecoin with the highest proportion of BUIDL as reserves in the market, with up to 90% of the reserve assets composed of BUIDL.
*The BUIDL tokenized fund is one of the innovative products of RWA, allowing users to participate in investments in real-world assets through blockchain. The fund mainly consists of US Treasury bonds, cash, stocks, and cash-backed repurchase agreements.
Opportunities for retail investors?
Although Ethena has not yet disclosed the detailed information about USDtb and how USDtb will be embedded into the Ethena protocol (points system), given the current bullish market state and the rapid development momentum of USDe (sUSDe APY as high as 29%, TVL soaring to 4.46B), it is still worth looking forward to earning substantial returns through USDtb.
You can pay attention to whether there are early incentive market mechanisms when USDtb is launched, such as high multiplier bonuses for ENA airdrop points, potential profit opportunities for YT and PT on Pendle, liquidity pools of blue-chip protocols, etc.
In addition, don't forget that Ethena has the support of multiple exchanges behind it. For example, USDe has already been included as collateral on more than one exchange. Recently, the spot interest rate of USDe on exchanges has reached as high as 25% to 29%, which clearly shows that holding stablecoins within the Ethena ecosystem has a very high profit basis.
Of course, the price of the ENA token has also been soaring recently, currently reaching a price of 0.8U. Various positive developments are indeed reflected in the token price.
*The Ethena protocol's revenue sharing proposal has passed the review of the risk committee, which may be a key factor in the rise of the ENA token price.
Are there prepared application scenarios for USDtb before its launch?
Additionally, the announcement mentioned that Ethena has proposed to Sky (formerly MakerDAO) to incorporate USDtb and plans to design a seamless conversion function between USDtb and USDe, demonstrating Ethena's outstanding execution ability.
It can be said that USDtb is not only for institutions and retail investors, but also aims to occupy a place within blue-chip protocols.
*Currently, Ethena has contributed nearly 30% of the total revenue to the Sky protocol.
Summary
I believe that through Ethena's multi-faceted operations, USDtb will also inject fresh water into the RWA market and may experience explosive growth at a rapid pace. I look forward to subsequent announcements regarding USDtb. For general investors, the high yield opportunities at the beginning of USDe's launch are still fresh in memory (Pendle PT with a rate as high as 60%, etc.), and similarly, we can expect whether USDtb will also have a similar early layout bonus effect in its initial listing.
Don't forget to follow me, I will try to update new information regarding USDtb as soon as possible, and feel free to leave comments below to discuss your views!
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※Partners who want to participate in Ethena's third quarter activities to earn $ENA airdrops can use my code:
eu54u
※The above content does not constitute investment advice. Users should operate according to their own risk tolerance, and DYOR to participate cautiously in the investment market.
※Attached image taken from Ethena announcement
