$ENA
Ethena is set to launch a new stablecoin product USDtb on December 16.
1. Release Date: Ethena mentioned December 16, 2024, in its new video, which may indicate that its stablecoin product USDtb will officially launch on that day.
2. BlackRock BUIDL Support: Ethena announced that approximately 90% of USDtb will initially be supported by BlackRock's BUIDL fund, which will be the highest BUIDL allocation ratio among all stablecoin issuers.
3. Structural Design Differences: Due to differences in structural design, other issuers have a lower maximum holding limit, which gives Ethena's USDtb an advantage in BUIDL distribution.
4. Relationship with USDe: USDtb will exist as an independent product, offering different risk characteristics compared to the synthetic dollar stablecoin USDe issued by Ethena in February 2024.
5. Risk Management: During times of poor funding conditions, USDe can benefit from the inclusion of USDtb, helping USDe to manage risk.
