Ethena proposes adding Solana (SOL) and liquid staking derivatives as backing assets for USDe, enhancing collateral diversity.
Ethena aims to increase USDe’s scalability with Solana integration, unlocking billions in open interest through perpetual futures.
With a plan to include Solana (SOL) as a collateral asset, Ethena Labs has made a big step in enhancing the support of its synthetic stablecoin, USDe. Under examination by the Risk Committee, the idea seeks to apply the same hedging method now applied for Bitcoin (BTC) and Ethereum (ETH) perpetual futures.
This method uses collateral in SOL to assist steady USDe’s value, offering a consistent and scalable basis for the stablecoin inside the decentralized finance (DeFi) network.
Strengthening USDe Through Solana Integration and Liquid Staking Assets
This action could release significant open interest in SOL futures, estimated at $2–3 billion, therefore strengthening the stability of USDe.
By integrating Solana, Ethena aims to
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