cryptofamily

USDe: the third largest stablecoin in the world
This week USDe from Ethena surpassed
DAI in terms of capitalization and became one of the top three largest stablecoins .The current capitalization of USDe is already over $5.6 billion.
Why has USDe overtaken DAI so quickly?
The main reason is yield: sUSDe yields 24.5% per annum. The average rate since February 2024 is 17.5%, the high was 55.9% in March. Thanks to this, Ethena reached $3 billion TVL in just 4 months after launch. And the ENA project token is up 361% since September.
Stablecoin USDe is backed by ETH and BTC, which are hedged using futures on centralized exchanges this helps the coin maintain a peg to the dollar even when the market fluctuates.

You are right about the collateral and hedging. Thanks for sharing😉
500 $DEGEN