Ethena Labs Supports USDe Synthetic Dollar with Bitcoin

April 5, 2024 Tóth Balázs

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Ethena Labs, renowned for its synthetic dollar, announced that it has supplemented the backing of USDe with Bitcoin. This innovation allows for more than a 2.5-fold scaling of the token pegged to the dollar and makes its products safer for traders. Ethena added that Bitcoin offers better liquidity and a delta hedge profile compared to liquid staking tokens, providing more stable backing for USDe.

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Ethena Labs Supports USDe Synthetic Dollar with Bitcoin

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