![Yield Chasers Propel Ethena’s USDE to .12B Market Cap in the Bull Market Frenzy Yield Chasers Propel Ethena’s USDE to .12B Market Cap in the Bull Market Frenzy](https://static.news.bitcoin.com/wp-content/uploads/2024/11/ggeeegeee-768x432.jpg)
According to Deribit, the exchange will include USDe in its cross-collateral pool as of early January 2025, pending regulatory approval.
Deribit, one of the world’s largest cryptocurrency derivatives exchanges, plans to integrate Ethena’s synthetic dollar USDe (USDe) as rewarding margin collateral.
As part of the integration, Deribit will enable users to earn rewards for holding USDe and use it as derivatives margin collateral in a cross-collateral pool, the firm announced on Nov. 22.
According to Deribit, the exchange targets including USDe in its cross-collateral pool as of early January, pending regulatory approval.
Now the protocol is working on a value accrual mechanism for ENA stakers.
The Ethena Foundation signed off on Wintermute’s proposal to share a portion of the decentralized finance (DeFi) protocol’s revenues with tokenholders, according to Wintermute’s governance forum.
On Nov. 6, Wintermute, a cryptocurrency market maker, proposed allocating a portion of Ethena’s fee revenue to stakers of ENA (ENA), Ethena’s native token.
“The Ethena Foundation is pleased to share that the proposal to enable an $ENA fee switch has been approved by the Risk Committee,” it said in the governance forum on Nov. 15.
The native token of the synthetic dollar protocol developer Ethena (ENA) surged by more than 45% this week as the project rolled out multiple new products. Ethena aims to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called USDe. The protocol also offers a dollar-denominated savings instrument called “the […]
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Ethena’s synthetic stablecoin USDe can benefit from incorporating UStb during periods of weak funding conditions, Ethena Labs said.
Ethena Labs, developer of the decentralized stablecoin protocol Ethena, is working on a new stablecoin backed by a tokenized fund from BlackRock.
Ethena Labs took to X on Sept. 26 to announce its new stablecoin project, UStb (USTB), which will be built in partnership with major Bitcoin investor (BTC) BlackRock and the digital securities platform Securitize.
The stablecoin will be backed by BlackRock’s tokenized BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which offers a stable value of $1 per token.