đ„ Ethena Labs is making moves! They've just added Bitcoin (BTC) to their USDe collateral, setting the stage for a massive scale-up from their current $2 billion supply. With BTC's open interest on top exchanges jumping from $10 billion to $25 billion, the USDe supply could increase by 2.5 times! Ethena sees Bitcoin as a source of enhanced liquidity and a more secure product. Although BTC doesn't offer native staking yields, Ethena considers 3-4% staking yields less crucial during bull markets. With Bitcoin, Ethereum, USDT, and ETH-based tokens as its backbone, USDe is now the 5th largest USD-pegged product. đ
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