Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,213)
  • Analysis (1,412)
  • Bitcoin (1,987)
  • Blockchain (1,153)
  • DeFi (1,363)
  • Ethereum (1,364)
  • Event (51)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,408)
  • Reddit (638)
  • Regulation (1,309)
  • Security (1,881)
  • Thought Leadership (1)
  • Uncategorized (4)
  • Videos (39)
Hand picked
  • Revolut to invest $ 1.1 billion in France, local banking license
  • The trip of the CEO of Coinbase from non-“political causes” for hiring DOGE staff
  • Most NFT are not titles
  • The Senate advances the Crypto bill after the Democratic opposition landed the first vote
  • Ethereum Exchange’s offer drops to a minimum of 4.9%
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»DeFi»DeFi Ethena Protocol (ENA) Deploys USDtb Stablecoin Backed by BlackRock’s Tokenized RWA
DeFi

DeFi Ethena Protocol (ENA) Deploys USDtb Stablecoin Backed by BlackRock’s Tokenized RWA

December 19, 2024No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
12aadf777b36dc32a0cd75e657cfee15fdcd5e22 1893x1065.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


Decentralized finance (DeFi) project Ethena announced Monday that it is rolling out its new stablecoin that aims to help stabilize the protocol’s flagship token, USDe, when crypto markets turn bearish.

The USDtb token aims to maintain a stable price of $1 and holds 90% of its reserves in BUIDL, the tokenized money market fund issued by asset management giant BlackRock and tokenization company Securitize.

“In light of the rapidly accelerating demand for different stablecoin options, we saw a clear opportunity to deliver a new product that offers users an entirely different risk profile than USDe without them having to to leave our trusted ecosystem,” said Ethena founder Guy Young. statement.

Ethena is one of the fastest-growing DeFi platforms this year, attracting nearly $6 billion in user funds since its public launch in early 2024. The protocol’s flagship token, USDe, marketed as a “synthetic dollar » with a stable price of $1, generates a return of $1. investors by shorting Bitcoin (BTC), Ether (ETH), and Solana (SOL) perpetual swaps and increasing funding rates. This investment strategy offers high returns – currently 27% annualized – when crypto markets are in bull mode, but can quickly become unprofitable when things turn downward with persistently negative funding rates.

The new offering will allow Ethena to close underlying derivative positions behind USDe and divert backing assets to USDtb during periods of negative funding rates and de-risking, the team explained. ‘Ethena.

The protocol also aspires to have USDtb accepted as collateral in the future for margin trading on centralized exchanges.

Read more: Tokenized Treasures: A Game Changer for Collateralization in Crypto Markets

Ethena has tapped Copper, Zodia Custody, Komainu and Coinbase Institutional as custodians for USDtb, according to a press release. Liquidity providers for the token include Jump, Cumberland, Amber Group, GSR Markets and SCB Limited.

Ethena also applied with new stablecoin USDtb for the so-called Tokenization Gran Prix program from Sky, formerly MakerDAO, which aims to invest up to $1 billion of funds in tokenized real-world asset (RWA) products.

The protocol’s governance token recently attracted the attention of President-elect Donald Trump’s DeFi project, World Liberty Financial, which purchased some $500,000 worth of tokens on Saturday, according to blockchain data. The ENA then rebounded 25% over the weekend before reducing some of its progress on Monday.





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous Articleeth2 quick update #12
Next Article Crypto Fraud Victims Often Harmed Due to DOJ Regulations

Related Posts

DeFi

The Sky Migre 26% MKR protocol to the Sky governance token, launches the USDS milestone awards, penalty from September

May 21, 2025
DeFi

True Markets is increasing $ 11 million Series A, launches the TRADING application DEFI first mobile on Solana

May 20, 2025
DeFi

Bitcoin.com NewschainLink CCCP is launching on Solana, connecting $ 19 billion in the CCIP of assetschainlink is now live on Solana, allowing transversal transfers between Solana and major blockchains like Ethereum and BNB Chain..1 One day ago

May 20, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

The Bitcoin Economy Conference in Las Vegas for First In-Person Edition

May 21, 2025

Las Vegas, NV – May 28, 2025 — House of ZK is set to host…

Event

Super Vietnam 2025: Where Blockchain, AI, and Innovation Converge in Southeast Asia’s Rising Tech Powerhouse

May 13, 2025

Vietnam is riding a powerful wave of technological innovation, and Super Vietnam 2025 arrives at…

1 2 3 … 45 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Revolut to invest $ 1.1 billion in France, local banking license

May 21, 2025

Chainalysis says that Haowang Shutdown fails to dismantle cryptographic scam networks

May 21, 2025

Trader warns Bitcoin (BTC) turn signal in a downward reversal, says gold picking for the next step

May 21, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 106,219.46
ethereum
Ethereum (ETH) $ 2,525.54
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.34
bnb
BNB (BNB) $ 651.46
solana
Solana (SOL) $ 167.79
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.225443
cardano
Cardano (ADA) $ 0.748616
tron
TRON (TRX) $ 0.270324