$ENA

The Ustb stablecoin under the ENA chain has successfully driven the price of ENA tokens to soar by 16% with the support of two giants, BlackRock and Securitize. The market generally expects that the price of ENA is expected to return to the $1 mark. Ethena Labs officially announced on Thursday that it will launch a UStb stablecoin jointly guaranteed by BlackRock BUIDL and Securitize. The product will operate in parallel with the existing USDe legal stablecoin as an independent project, aiming to provide users and exchange partners with new options with differentiated risk characteristics.

In its official announcement on September 26, Ethena Labs detailed the launch plan of UStb, emphasizing its positioning as an independent product, which complements the strategy of USDe to meet different market needs. In the case of a relatively tight funding environment, USDe is expected to benefit from the inclusion of UStb, and flexibly adjust the configuration between the underlying position and the liquidity stabilization product to cope with the challenges brought by different interest rate environments.

In addition, the announcement also responded to the concerns of the cryptocurrency community about the performance of the USDe protocol in a negative funding rate environment. Ethena Labs proudly pointed out that despite the challenging market environment in the past six months, its sUSDe product has never experienced a week of negative funding, demonstrating its solid operational capabilities and risk management level.