Ethena is partnering with @Securitize as a strategic tokenization partner, with the integration of STAC, the Securitize Tokenized AAA CLO Fund, into USDe's backing.
This expands USDe's institutional-grade RWA exposure beyond existing Blackrock BUIDL collateral.
The integration was approved by the Ethena Risk Committee following independent due diligence, evaluated against the same four criteria: liquidity, credit quality, drawdown profile, and pricing transparency.
Ethena just beat out Hyperliquid and PumpFun for 24-hour fee revenue...
According to data from DefiLlama, @ethena generated an impressive $3.4M in fees over the past day.
Still behind @tether and @Circle, this meant that for the 24-hour period, $ENA outpaced major platforms like @HyperliquidX and @Pumpfun in terms of fee generation.
With the platform just announcing its first product with @Coinbase, its fair to say the Ethena team is COOKING.
A dollar you can build with.
eSui Dollar ($suiUSDe) brings @Ethena-style efficiency to Sui.
- Use as collateral for margin trading on @DeepBookonSui
- Earn rewards while you sleep
eSui Dollar brings a new Sui DeFi use case for synthetic dollars to institutions and retail.
The first product in the Ethena ✦ Coinbase collaboration is now live.
The @SteakhouseFi High Yield Vault has officially launched on @Coinbase, powered by USDe on @Morpho.
Coinbase's user base now has access to a best in class savings rate through the vault, live in the Coinbase App for users in the U.S. and abroad.
Ethena is partnering with @Centrifuge as a strategic tokenization partner, with the integration of JAAA, Janus Henderson's AAA CLO strategy, into USDe's backing.
This is the first non-T-Bill RWA collateral in USDe's backing, approved by the Ethena Risk Committee following independent due diligence.
Every RWA is evaluated against four strict criteria: liquidity, credit quality, drawdown profile, and pricing transparency.
AAA RWA returns are driven by factors independent of crypto markets. Diversifying USDe's backing into these assets strengthens its resilience across market cycles.
BREAKING: 🇺🇸 UNITED STATES JUST PUBLISHED THE FULL TEXT OF A NEW STRATEGIC BITCOIN RESERVE BILL
IT WILL ENSURE THE UNITED STATES WON’T SELL BITCOIN FOR THE NEXT 20 YEARS
USA IS ABOUT TO BUY A LOT OF BTC 🚀
Following the recent post outlining the backing diversification of USDe, we have published the next phase of that work: broadening RWA exposure beyond tokenized T-Bills.
The first asset category under evaluation is AAA CLOs, which sit at the top of the capital stack, with a zero default rate at the AAA level across the entire history of the asset class.
The allocation helps diversify the sources of revenue for Ethena across market cycles.
Our first partnerships and allocations with asset managers and issuers in this category will be released next week.
Details in the link below:
Excited to partner with Coinbase for the first time to support their dollar savings products. The upcoming integration next week will be the first time Ethena products are available for their 100m+ user base.
Given the evolving nature of the Clarity Act, we expect further potential tailwinds for onchain native products like USDe from idle balances on exchanges, and Ethena is well positioned to support this transition.
With this partnership @ethena could offer @coinbase's 100M users and ~$19B USDC base a new source of yield outside of t-bills and provide a huge funding avenue for @ethena if sUSDe yields trump USDC
If the clarity act makes it harder to offer straight USDC t-bill yield on coinbase this is also a fantastic alternative for users
Recommend reading Yan's entire post
At @Delphi_Ventures we are investors in @ethena