On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin’s reserve backing. USDE Stablecoin Project Extends to Solana, Includes SOL Backing Despite witnessing redemptions totaling around […]
On Thursday, Ethena Labs unveiled its new strategy to back USDE with bitcoin, enhancing the stablecoin’s foundation. The stablecoin, known for delivering yields in the double digits, has rapidly ascended to become the fifth-largest stablecoin by market capitalization, now valued at over $ 2 billion. USDE to Utilize Bitcoin as Collateral An update shared …
Tardfiwhale, a pseudonymous blockchain sleuth who predicted the fall of Luna and UST, has warned about critical flaws in Ethena, a rising blockchain synthetic dollar stablecoin protocol. Tardfiwhale is asking for donations to certain entities before revealing these alleged flaws, as Ethena has no bug bounty program. ‘Critical Flaws’ Present in Ethena According to Pseudonymous […]
Ethena, the protocol for the synthetic crypto native dollar, has announced an airdrop of its governance token, ENA, for participants in its shard campaign. The platform has stated that after a 6-week shard operation, 750 million ENA (which is 5% of the total supply) will be airdropped, with the number of shards held by each […]
On Friday, Ethena Labs, the creators of the stablecoin USDE, secured $ 14 million in funding from key investors. Following this recent influx of funds and a previous $ 6.5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to $ 300 million. USDE Issuer …