Optimism high for Ethena’s USDtb stablecoin as it clocks $65M TVL on day 1
Ethena’s USDtb has already amassed more than $65 million in total value locked on the opening day.
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Ethena’s USDtb has already amassed more than $65 million in total value locked on the opening day.
The CeDeFi stablecoin has attracted billions of inflows due to double-digit staking yields.
Stablecoins trading volume saw a sharp increase, placing monthly volumes on exchanges on track to new highs in 2024.
According to Deribit, the exchange will include USDe in its cross-collateral pool as of early January 2025, pending regulatory approval.
Now the protocol is working on a value accrual mechanism for ENA stakers.
Trading platforms and regulators are increasingly embracing cryptocurrency as collateral for trades.
Ethena’s synthetic stablecoin USDe can benefit from incorporating UStb during periods of weak funding conditions, Ethena Labs said.
USDe was made available on Solana and became integrated with multiple Solana-based DEXs and DeFi protocols, including Kamino, Orca and Drift.
The integration will also offer Bybit users daily airdrop rewards for holding Ethena’s USDe.
