Ethena (USDe)

Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing synthetic dollar which is not reliant on the banking system: USDe.

Funding Round: $14 Million

Whitepaper

Important By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Interest lvl

High

Updated: Apr 02, 2024

Learn more about our rating

User Rating

Medium

3/5 • 1 votes

Claim your project

Ticker

USDe

Type

Utility-token

Token standard

ERC-20

Registration year2023

Launchpads

Binance

What is Ethena

Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument - the 'Internet Bond'.

Ethena's synthetic dollar, USDe, will provide the first censorship resistant, scalable and stable crypto-native solution for money achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently onchain and free to compose throughout DeFi.

The ‘Internet Bond’ is built upon USDe and will combine yield derived from staked Ethereum as well as the basis in both perpetual swap and futures markets, to create the first onchain bond that can function as dollar denominated savings instrument for users worldwide.