"USDe is already backed by Ether, Ether-based liquid staking tokens and Tether, but Ethena says Bitcoin will provide more 'safe' and 'robust' product for USDe token holders.
Ethena Labs, the team behind the USDe, has added Bitcoin (BTC) as collateral to its synthetic dollar-pegged product with the hopes of scaling 'significantly' from its current $2 billion supply.
With Bitcoin open interest increasing from $10 billion to $25 million over the past year..."
Add comment