Stablecoin Project Ethena Labs Bags $4M for USDe Treasury скачать в хорошем качестве

Stablecoin Project Ethena Labs Bags $4M for USDe Treasury

The stablecoin earns yield by shorting ether futures and capturing funding rates - which have surged in the past two weeks. Ethena Labs’ stablecoin has pocketed $4 million for its treasury with high yields derived from ether-future funding rates and staking ether to a validator. The project has seen early success with a controversial concept, increasing its treasury to over $16 million and becoming the third-largest revenue generator in the crypto market. Stablecoin project Ethena Labs has bagged over $4 million for its treasury less than two weeks after going live, showcasing early signs of success with a concept that has divided market participants. The firm’s USDe, a synthetic dollar that aims to be pegged to $1 by shorting ether (ETH) futures, yielded over 68% annualized on deposits as of Friday. It could keep $4 million for its treasury after paying out users, head of growth @MacroMate8 said on X, increasing the treasury amount to over $16 million from nearly $12 million. The earnings have catapulted Ethena to the third-largest revenue generator in the crypto market behind the Tron and Ethereum blockchains. Ethena’s high yields are derived mainly from the high ether-future funding rates, as well as staking ether to a validator, which generates less than 4% yearly as of Friday. Funding rates refer to payouts made to traders who either long, bet on, go short, or bet against the price of any asset. Longs pay short when prices go up, as they borrow capital from the market to place bigger bets, and vice versa. Users can deposit stablecoins, such as tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD) and mkUSD to receive Ethena’s USDe, which can then be staked. Unstaking takes seven days. The staked USDe tokens can be supplied to other DeFi platforms to earn an additional yield. DefiLlama data shows that the total value locked on Ethena has grown to $833 million as of Friday, up from $300 million in mid-February after its public launch. https://www.coindesk.com/markets/2024... #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #ether #ethernews #ethernewstoday #trading #tradingnews #crypto ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple