Ethena, the decentralized stablecoin protocol behind the synthetic dollar USDe, has entered into a pivotal partnership with Derive, a leading on-chain options protocol.
The collaboration, announced on December 3, marks a significant step in expanding the reach and functionality of both platforms within the decentralized finance (DeFi) ecosystem.
As part of the partnership, Derive will integrate USDe as collateral on its platform, allowing traders to leverage the stablecoin for a variety of decentralized options and structured products.
This change increases the utility of USDe while promoting greater liquidity on the Ethena Network.
On the other hand, Ethena will have access to Derive’s advanced options trading and structured products capabilities.
These tools will increase liquidity and support USDe composability across the DeFi landscape, benefiting users of Ethereal, Ethena’s decentralized spot and perpetual trading platform powered by USDe.
