Ethena Labs announcement of USDe stablecoin on X.
In contrast to the traditional fiat-reserve-backed stablecoins, USDe derives its yield based on the staking rewards of Ethereum and keeps that reward away from the short funding rate for ETH. By doing so, it provides the holder with an attractive annual percentage yield of up to 29%. This double-layered yield model makes USDe a high-reward financial instrument in the decentralized finance space.

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