Stablecoin issuer Ethena has been in the spotlight recently. The governance token “ENA” airdrop will commence today (4/2), and there are rumors that decentralized stablecoin protocol MakerDAO is considering distributing $600 million worth of stablecoin DAI into USDe, as well as pledging USDe through the DeFi lending protocol Morpho Labs.
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USDe offers an annualized return rate of up to 35.4%.
MakerDAO proposes to invest $600 million in USDe.
The governance token “ENA” airdrop is underway.
Focusing on the development of a stablecoin that does not rely on traditional finance, Ethena issues the stablecoin USDe, which hedges price risks using users’ collateral (ETH) and maintains its peg to the US dollar through perpetual contracts for shorting, ensuring that the returns or losses of any asset are offset.
According to its website, Ethena’s collateral includes stETH, WBETH, mETH, ETH, and 27% USDT, with a current total locked value of $1.56 billion and an annualized return rate of up to 35.4%. This accounts for approximately 1.74% of the total supply of Ethereum stablecoins.
Based on MakerDAO’s proposal, it is suggested to invest $600 million worth of DAI into USDe, with the potential to gradually increase this scale as Ethena develops. With a total locked value of $1.56 billion for USDe, MakerDAO’s $600 million investment will significantly increase the supply of USDe.
Seraphim Czecker, the development lead of Ethena, stated on X that although it is currently in the proposal stage, if the MakerDAO community confirms this move, it will help Ethena’s total locked value grow “as expected internally.”
Ethena will airdrop the governance token “ENA” today (4/2). A total of 7.5 billion ENA tokens will be airdropped, accounting for 5% of the total supply. The claiming website is Claim.ethena.fi.
Binance Launchpool will also end today and ENA tokens will be listed at 4 PM, including trading pairs ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY.
Ethena
MakerDAO
USDe
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