USDe is backed by Ether, Ether-based staking tokens, and the Tether stablecoin, but #Ethena believes #биткоин will provide consumers with a safer, more reliable asset. Ethena Labs, the company behind the#USDetoken, has included Bitcoin as collateral for its dollar-pegged synthetic product.
This is done with the aim of significantly increasing the supply of USDe from the current $2 billion.
Thanks to the growth of open interest in Bitcoin on leading cryptocurrency exchanges from $10 million to $25 million over the past year, USDe volume could grow 2.5 times.
This strategy was described by Ethena in a post on X on April 4th.
To maintain USDe's peg to the dollar, Ethena uses a delta hedging strategy in the derivatives market.
Let's say Ethena has a short position in Ether and its derivatives. If the price of ether decreases, such positions become profitable for the company.
Thus, Ethena insures itself against possible risks associated with fluctuations in the price of ether.
💥Subscribe, the experiment continues!
