Ethena Labs has teamed up with Chainlink, Harris & Trotter, Chaos Labs and Llamarisk, to launch proof of reservations for its stablecoin in synthetic dollars.
ChainLink (Link) and other companies have joined the initiative of Ethena Laboratories (ENA) as proof of the Stablecoin reserves. Collaboration will help improve the transparency of the Ethena USD token.
“Compared to our monthly caretaker reports, proof of reservations offers more frequency, independent surveillance and a secure design, extensible and without confidence by default,” said Athena Labs in an ad.
POR will allow access to everyone, with those available via the “transparency” page of the protocol. Proof of the USDE reserves will also be visible on partners’ websites, added the Ethena Labs team.
By publicly displaying the reserve data verified, Ethena will provide an independent confirmation of the food in circulation of the USDE compared to its reserve assets. As a stablecoin, the USDE must be fully supported by equivalent assets outside the chain.
ChainLink will help fuel the weekly statement of Statehena Labs, the infrastructure of the oracle network allowing the synthetic dollar protocol to obtain information directly from the guards, the blockchain and the exchanges.
Ethena published an asset assessment supporting the USDE held at Gustodial Solutions at the beginning of the month, the certificates showing that on March 29, 2025, the supply of the USDE was 5.247 billion. $ 3.211 billion was held in Ethena Coinbase Coinbase portfolios, $ 0.914 billion checked as copper owned and $ 0.959 billion in the CEFFU solution.
The unpaid profits for Ethena compared to the assets amounted to $ 123 million at the time.
Ethenena draw on Chainlink technology aligns with other integrations such as the use of 21Shares asset manager of the platform por for its fund negotiated by Ethereum (ETH). 21.Co, the parent company of 21Shares also adopted the proof of reserve of the reserves of reserves of reserves for the bitcoin wrapped in the Solana and Ethereum blockchains.
