USDe Now Available for Deposit on Ether.fi in Exchange for Liquid Re-Staking Token

Ethena has announced a new partnership enabling users to deposit USDe on Ether.fi in exchange for a new liquid re-staking token (LRT) called eUSDe. This innovative LRT will serve as a USD-linked asset for re-staking on EigenLayer, marking the first dollar-pegged collateral used in EigenLayer's ecosystem. This integration offers re-stakers across various platforms a more stable, less volatile option for collateral in their staking activities.

Ether.fi, which currently holds over $5.7 billion in Total Value Locked (TVL) according to DeFi Llama, will allow users to deposit multiple stablecoins into its USDe vault in exchange for the new eUSDe LRT. This token will be utilized to secure a range of systems and protocols as part of Ether.fi's generalized re-staking process.

Ethena maintains the stability of its synthetic USDe dollar through a derivatives trading strategy, using short positions in ETH or ETH-related derivatives to offset potential losses in ETH collateral. In recent developments, Ethena Labs has also integrated with Solana, allowing users to trade USDe on the Solana network, further expanding the utility of its stablecoin. $ETHFI $SOL $ENA

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