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Ethena LabsCustodian Attestations of Assets Backing USDe: November
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our thirteenth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol....
Ethena LabsSeason 5 Update
Season 4 HighlightsToday marks the end of Ethena Season 4 and the beginning of Season 5. Season 4 saw meaningful expansion of USDe across major venues. USDe became the fastest dollar asset to reach $10B in supply and continues to grow on the back of deeper integrations and partnerships. USDe’s adoption across DeFi grew significantly. Notably, “Aavependlethena” (where Pendle’s interest rate derivatives on USDe and sUSDe are used as collateral on Aave) grew to $6B+ in scale, reflecting USDe’s e...
Ethena LabsENA Token Launch
The Holy Grail: Internet MoneyApril 1st marks the end of the Ethena Shard Campaign, which ran for a duration of just 6 weeks in total - one of the industry’s shortest pre-token campaigns yet. USDe supply grew to over $1.3bn today. This represents the fastest USD-denominated asset to reach >$1bn supply ever in crypto. Ethena’s USDe supply is now: >1.5x larger than the entire tokenized treasury RWA market >3x larger than the entire onchain ETH open interest for every DEX combined Higher than al...
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Ethena LabsCustodian Attestations of Assets Backing USDe: November
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our thirteenth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol....
Ethena LabsSeason 5 Update
Season 4 HighlightsToday marks the end of Ethena Season 4 and the beginning of Season 5. Season 4 saw meaningful expansion of USDe across major venues. USDe became the fastest dollar asset to reach $10B in supply and continues to grow on the back of deeper integrations and partnerships. USDe’s adoption across DeFi grew significantly. Notably, “Aavependlethena” (where Pendle’s interest rate derivatives on USDe and sUSDe are used as collateral on Aave) grew to $6B+ in scale, reflecting USDe’s e...
Ethena LabsENA Token Launch
The Holy Grail: Internet MoneyApril 1st marks the end of the Ethena Shard Campaign, which ran for a duration of just 6 weeks in total - one of the industry’s shortest pre-token campaigns yet. USDe supply grew to over $1.3bn today. This represents the fastest USD-denominated asset to reach >$1bn supply ever in crypto. Ethena’s USDe supply is now: >1.5x larger than the entire tokenized treasury RWA market >3x larger than the entire onchain ETH open interest for every DEX combined Higher than al...
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We are excited to announce the planned launch of a new stablecoin, USDtb, which intends to invest its reserves in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, the leader in the tokenization of real-world assets.
USDtb will function identically to a traditional stablecoin and is expected to have its reserves invested in BUIDL, the token underlying Blackrock’s first-ever tokenized asset fund. Blackrock’s BUIDL fund invests in U.S. dollars, short-term U.S. Treasury bills, and repurchase agreements.
USDtb will exist as a wholly independent product, offering users and exchange partners a new option for their stablecoin needs that carries a completely differentiated risk profile compared to USDe.
USDtb can also help USDe better weather difficult market conditions. If deemed necessary and appropriate by Ethena’s governance, during periods of negative funding rates Ethena will be able to close the hedging positions underlying USDe and re-allocate its backing assets to USDtb to further ameliorate related risks.
As part of our vision for USDtb, we intend for the new stablecoin to be usable as an alternative to USDe as margin collateral on the centralized exchanges we have already partnered with to offer the use of USDe as margin collateral – including Bybit, Bitget, and any other exchanges that we work with in the future.
We look forward to sharing more information regarding the timing of the launch of USDtb as well as its integration with exchanges in the coming weeks.
We are excited to announce the planned launch of a new stablecoin, USDtb, which intends to invest its reserves in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, the leader in the tokenization of real-world assets.
USDtb will function identically to a traditional stablecoin and is expected to have its reserves invested in BUIDL, the token underlying Blackrock’s first-ever tokenized asset fund. Blackrock’s BUIDL fund invests in U.S. dollars, short-term U.S. Treasury bills, and repurchase agreements.
USDtb will exist as a wholly independent product, offering users and exchange partners a new option for their stablecoin needs that carries a completely differentiated risk profile compared to USDe.
USDtb can also help USDe better weather difficult market conditions. If deemed necessary and appropriate by Ethena’s governance, during periods of negative funding rates Ethena will be able to close the hedging positions underlying USDe and re-allocate its backing assets to USDtb to further ameliorate related risks.
As part of our vision for USDtb, we intend for the new stablecoin to be usable as an alternative to USDe as margin collateral on the centralized exchanges we have already partnered with to offer the use of USDe as margin collateral – including Bybit, Bitget, and any other exchanges that we work with in the future.
We look forward to sharing more information regarding the timing of the launch of USDtb as well as its integration with exchanges in the coming weeks.
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