$ETH 🔥 Ethena's New Plan Connects DeFi, CeFi, and TradFi
$ETH Ethena Labs unveiled its latest plan, aiming to merge decentralized finance (DeFi), centralized finance (CeFi), and traditional finance (TradFi).
Their synthetic stablecoin, USDe, seeks to replicate the success of Tether's USDT in 2014 and MakerDAO in 2017.
🔸 Ethena's Vision: DeFi, CeFi, TradFi Integration
According to the DeFi platform, USDe is set for success because its reserves are more than double the combined open interest in perpetual decentralized exchanges (DEX).
Ethena outlined in its plan that it can offer valuable liquidity to both DEX and centralized exchanges (CEX) by using USDe as collateral, generating open interest. It stressed that they function as a neutral infrastructure, leading to a protocol allocation of up to $1.25 billion towards USDe.
💬 "As other stablecoin providers grow in DeFi, Ethena will grow alongside them. The basis in futures markets is higher real yields. USDe will be the foundation for these interest rate markets," Ethena stated.
Following the release of its plan, Ethena's native token, ENA, surged over 8%, jumping from $0.85 to $0.93. ENA is on a bullish trend, having risen 18.22% last week and 47.24% since its launch, with a market cap of $1.41 billion.
$ENA #ENAonFire #ethenacoin