Ethena Labs Takes Precautions Against Potential Risks Using USDe for Derivatives Collateral

Ethena has introduced a feature allowing traders to use USDe as collateral for derivatives trading. Conor Ryder, head of research at Ethena Labs, explained that they have taken the necessary precautions to mitigate potential risks. Guy Young, Ethena Labs' founder, stated that the company and its partners have implemented appropriate safeguards. Ethena collaborates with five exchanges to diversify short bets on USDe: 48% on Binance, 23% on Bybit, 20% on OKX, 5% on Deribit, and 1% on Bitget. The collateral for USDe is diversified: 50% supported by Bitcoin, 30% by Ethereum, 11% by Ethereum Liquid Tokens, and 8% by USDT. Bybit has also announced the use of USDe for derivatives trading, offering up to 20% annual interest.

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