Ethena Labs’ synthetic dollar, USDe, is now available as margin collateral on Bybit, offering traders an annual percentage rate （APR） of up to 20%, enhancing trading efficiency and flexibility.
Points
- Ethena Labs’ USDe launched as margin collateral on Bybit with a 20% APR.
- The integration aims to improve trading efficiency and flexibility for Bybit users.
- USDe managed to uphold a high yield despite initial concerns.
- The total value locked （TVL） for USDe is currently over $3.2 billion.
Ethena Labs’ synthetic dollar, USDe, has made its debut as margin collateral on the cryptocurrency exchange Bybit, offering traders an impressive annual percentage rate （APR） of up to 20%. This new integration aims to enhance trading efficiency and flexibility, providing Bybit users with a diversified range of stablecoin options, including USDe.
Bybit’s co-founder and CEO, Ben Zhou, expressed enthusiasm about the integration, stating, “By leveraging USDe, traders can now benefit from a unique combination of stability and potential yield as they manage their collateral. This means access to a diversified range of stablecoin options for Bybit users.”
Ethena Labs’ founder, Guy Young, echoed this sentiment, highlighting the value accrual and rewards potential for users. He explained, “For the first time, users will be able to benefit from potential rewards and value accrual on their collateral while they trade on Bybit. This can be used to offset funding costs on their positions and capture more value for users.”
Since its launch in February, USDe has managed to maintain a high yield, with an initial 27.6% APY raising concerns among investors. Despite these concerns, USDe has upheld a yield of over 12.3% APY for more than 262,000 users, demonstrating the robustness of the protocol. Ben Zhou commented on this achievement, stating, “Ethena’s ability to maintain a high yield on USDe despite initial concerns is a testament to the strength of their protocol.”
Ethena Labs’ USDe currently holds over $3.2 billion in total value locked （TVL）, five months after its launch. Although the TVL fell by over 10.9% during the past month, the new integration with Bybit is expected to drive further growth. Guy Young expressed optimism about the partnership, stating, “We hope this partnership leads to wider adoption and usage of USDe in a variety of use cases. The opportunity for USD collateral on exchanges is many billions, and we hope to play a meaningful part in that.”
解説
- The integration of Ethena Labs’ USDe as margin collateral on Bybit provides traders with a stablecoin option that offers both stability and high yield, enhancing trading efficiency and flexibility.
- Maintaining a high yield of over 12.3% APY for more than 262,000 users demonstrates the robustness and reliability of the USDe protocol, despite initial investor concerns.
- The significant total value locked （TVL） of over $3.2 billion underscores the growing adoption and trust in USDe as a viable stablecoin option for collateral.
- The partnership between Ethena Labs and Bybit is expected to drive further growth and adoption, highlighting the potential for stablecoins in various use cases within the crypto trading ecosystem.
- Understanding the benefits and potential risks of using synthetic dollars like USDe as margin collateral can help traders make informed decisions and optimize their trading strategies.