1. Project introduction
Ethena Labs are the creators of #USDe USDe, a synthetic USD protocol based on Ethereum. This initiative addresses the need in the crypto-native space for a stable, scalable form of money that is not dependent on the traditional banking system.
2. Sources of income
USDe staking users can share the double income from the mortgage assets.
Stable income from spot long pledges. Ethena Labs supports staking spot ETH through liquidity staking derivative protocols such as Lido to earn annualized returns.
Unstable returns from futures short funding rates. Users who are familiar with contracts all understand the concept of funding rate. Although the funding rate is an unstable factor, for short positions, in the long run, the funding rate is positive most of the time, which also means that the overall profit will be positive.
The combination of the two returns achieves a substantial yield for USDe.
#ENA The current over-the-counter price is about 0.65-1 US dollars (probably overestimated), and the circulating market value is 1-1.5 billion. What do you think the opening price can reach?
You can refer to the picture below!
#BNBćæææ Remember to take it.
#BNB Definitely underestimated, thank you BN!
Like #BNB , like, nod and follow, thank you family, let us welcome the arrival of the bull market!
