Ethena Suggests SOL as Strategic USDe Backing Asset
Ethena has put forth a proposal to allocate SOL (Solana) as a backing asset for USDe, its decentralized stablecoin, using a similar hedging mechanism currently employed with Bitcoin (BTC) and Ethereum (ETH) perpetual futures. This move could provide new opportunities for the protocol to generate revenue by tapping into SOL's open interest and favorable funding rates.
The Risk Committee will closely evaluate the plan, considering SOL's shorter trading history and relatively lower liquidity compared to BTC and ETH. Ethena will scale into the SOL market cautiously, aiming to maintain market balance while taking advantage of the projected growth.
Read More: https://www.coingabbar.com/en/crypto-currency-news/ethena-aims-to-boost-usde-with-sol-integration
