Seems we have moved from "first they ignore you" to "then they fight you" in the FUD cycle.
Not sure if these guys know ZK proofs work or read the whitepaper, but let's see what new attack they come back with once the circuits are public this week.
https://t.co/mCX6Pppnvx
Due to turbulent market conditions and widespread liquidations the secondary market price for USDe experienced volatility.
We can confirm the mint & redeem functionality has remained operational throughout with no downtime experienced, and USDe remains overcollateralised.
Due to liquidations perpetual contracts have been and continue to trade below spot.
This creates additional unexpected uPNL within USDe, due to Ethena being short these contracts, which is currently in the process of being realised to the benefit of the protocol.
USDe will therefore be more overcollateralised than yesterday as a result of these events.
We will provide further updates as we receive them.
Headed to Permissionless next week
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The Succinct Network Architecture and the $PROVE Token
The network is a marketplace that connects provers and requesters for ZK proof generation, implemented as a high performance verifiable application.
The PROVE token enables payments, secures the network, and incentivizes provers.
An AMA with @cz_binance on data sovereignty and AI:
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