Ethena Labs is proud to announce the integration of Coinbase International, via Copper’s ClearLoop solution, as a hedging venue for the backing assets of USDe.
Coinbase International’s derivatives open interest has recently exceeded >$1bn and represents a fantastic opportunity to diversify the hedging of the backing assets of USDe.
Coinbase International joins Binance, Bybit, Okx, Deribit, and Bitget as the only hedging venues for USDe’s backing assets. Coinbase International is the first new hedging venue the protocol has integrated since launch.
Coinbase International’s integration of Copper’s ClearLoop solution enables the protocol to continue solely interfacing with hedging venues via “Off Exchange Settlement” providers, with none of the backing assets of USDe residing on any of the exchanges.
Coinbase International will be the first exchange to operate hourly “mark to market” settlements via Copper ClearLoop. This means Coinbase International will settle all outstanding balances, including unrealized derivatives pnl, with each cycle, the most frequent of all exchange partners. This represents another positive step forward in mitigating counterparty exposure.
Users are able to learn more about our transparency efforts via our “Transparency Dashboards” which include links to our Monthly Custodian Attestations as well as our Weekly Proof of Reserves publications.
Ethena Labs is proud to announce the integration of Coinbase International, via Copper’s ClearLoop solution, as a hedging venue for the backing assets of USDe.
Coinbase International’s derivatives open interest has recently exceeded >$1bn and represents a fantastic opportunity to diversify the hedging of the backing assets of USDe.
Coinbase International joins Binance, Bybit, Okx, Deribit, and Bitget as the only hedging venues for USDe’s backing assets. Coinbase International is the first new hedging venue the protocol has integrated since launch.
Coinbase International’s integration of Copper’s ClearLoop solution enables the protocol to continue solely interfacing with hedging venues via “Off Exchange Settlement” providers, with none of the backing assets of USDe residing on any of the exchanges.
Coinbase International will be the first exchange to operate hourly “mark to market” settlements via Copper ClearLoop. This means Coinbase International will settle all outstanding balances, including unrealized derivatives pnl, with each cycle, the most frequent of all exchange partners. This represents another positive step forward in mitigating counterparty exposure.
Users are able to learn more about our transparency efforts via our “Transparency Dashboards” which include links to our Monthly Custodian Attestations as well as our Weekly Proof of Reserves publications.
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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....
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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...
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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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