Excited to announce @usualmoney is migrating to USDtb as collateral for their stablecoin USD0

This is the latest of many cutting-edge stablecoin protocols leveraging the composable benefits of Ethena's product set

Details below 👇 USDtb will soon become a primary collateral asset for Usual’s USD0, currently with over $850 million in TVL

Blackrock's BUIDL represents the vast majority of the USDtb backing, currently the highest BUIDL allocation of any stablecoin in the market

https://twitter.com/1637885519374721035/status/1868657723799470361

Today we are launching our new stablecoin product, USDtb, backed by @BlackRock's BUIDL Fund in partnership with @Securitize

Read below for full details👇 USDtb functions like a traditional stablecoin such as USDC or USDT, utilizing cash and cash-equivalent reserve assets to back each token

Blackrock's BUIDL represents the vast majority of the USDtb backing, currently the highest BUIDL allocation of any stablecoin in the market

Full details in the blog post:
mirror.xyz/0xF99d0E4E3435…

Ethena and @Securitize in partnership have submitted an application for USDtb to be included in @SkyEcosystem's $1b Tokenization Grand Prix using @BlackRock BUIDL as the primary reserve asset backing

USDtb is the only stablecoin offering in the market with the capability to be backed 100% by @BlackRock BUIDL and this application with Ethena is supported by @Securitize alongside their previous submission

This also includes proposal for a USDtb and USDe swap facility to be enabled with Ethena enabling frictionless reallocation between the two assets for the @SkyEcosystem as they adjust their backing to the interest rate cycle

👇 The Ethena swap facility for Sky enables maximum flexibility to react to changes in the current interest rate environment

If crypto funding increases, Sky can reduce any USDtb holdings and increase its USDe allocation with zero friction and quicker than it could allocate to and from current RWA issuers

Pleased to announce the proposal to integrate sUSDe into @aave has passed successfully 👻👻👻

sUSDe will be added as a collateral in both the main Ethereum and Lido instance, enabling billions of dollars of stablecoins to be borrowed against sUSDe

Details below: Aave proposal here:

vote.onaave.com/proposal/?prop…

We are excited to announce Ethena's newest product offering: UStb

UStb will be fully backed by @Blackrock BUIDL in partnership with @Securitize, enabling a separate fiat stablecoin product alongside USDe

Details below on why this is important: UStb will be collateralized by @BlackRock and @Securitize BUIDL and will function identically to a traditional stablecoin

This will exist as an isolated product separate from USDe offering users and exchange partners a new product with a differentiated risk profile to USDe

USDe is live on Solana as of today, August 7th

Read below for a list of our app integrations with USDe and sUSDe 👇 August 7th marks Ethena's Solana integration:

- USDe deployed on Solana thanks to @LayerZero_Labs OFT

- SOL onboarded as a backing asset for USDe, subject to governance

- Solana Sats Campaign

Introducing the Ethena reward-bearing asset proposals, with entities pitching for an allocation from Ethena's liquid cash backing

One of the early applications is from Securitize, the distributors of @BlackRock's BUIDL, for an allocation from Ethena's Reserve Fund

Details below Issuers are invited to pitch Ethena for an allocation of their RWA, or reward bearing asset

As long as the asset is USD denominated, and accrues rewards, it may be eligible for an allocation from:

i) Ethena's $45m Reserve Fund
ii) USDe's liquid cash backing of ~$250m

Today marks an important step forward in more closely aligning the growth and use of $USDe with $ENA

The launch of a generalized staking capability for $ENA with @symbioticfi and @LayerZero_Labs is the first step in adding functional utility for $ENA within the Ethena ecosystem Summary:

i) Introduction of generalized restaking modules for $ENA and $sUSDe

ii) $ENA restaking pools within @symbioticfi to secure the Ethena Chain

iii) Immediate 50% reduction of go-forward $ENA inflation for Season 1 campaign participants to support long term alignment

Excited to share one of the most important DeFi integrations for USDe adoption to date

👻 @ethena_labs x @aave 👻

Read below for details on the partnership 🤝 Users are now able to:

i) Deposit USDe and loop their position with other stablecoins on Aave

ii) Deposit stETH, weETH, ETH and WBTC on Aave to borrow stablecoins into Ethena USDe or sUSDe

vote.onaave.com/proposal/?prop…

As of today Ethena will be live on @Blast_L2 the L2 with native yield 💥

Read below for a list of our app integrations with USDe 🧵 USDe and sUSDe will be live on @ThrusterFi LP pools paired with USDB

Both pools will receive maximum Ethena allocation with 30x sats alongside Blast Gold and Thruster Credits

Users who then stake in @hyperlockfi will receive an additional 5x sats

app.thruster.finance

To date the sUSDe contract has received protocol yield attributable to assets backing staked USDe, with the protocol retaining the remainder

As of today, the retained portion is reduced to 20%, with the remainder going to the sUSDe contract

As a result sUSDe APY = 37.2% How does this work?

Currently only 15% of USDe is staked in sUSDe

If entire protocol backing generates ~7%, transferring returns from assets backing unstaked USDe to the staking contract increases effective sUSDe APY - with 20% retained, sUSDe APY rises to ~37%

Ethena 2024 Roadmap: The Holy Grail: Internet Money

https://twitter.com/1589990734601625601/status/1788857362557596066

Summary sections:

i) Why we believe Ethena is important
ii) What we are excited by: USDe convergence of DeFi, CeFi, TradFi
iii) The Ethena Endgame: Money, Network, Exchange

Based on community feedback the $ENA liquidity lock has been simplified to further align incentives for longer term participants

Users can now lock $ENA to receive a scaled sats boost up to 100% based on the amount of $ENA locked relative to USDe positions Locked $ENA will continue to receive the highest rewards at 30x

Doing so will more closely align the growth of USDe with longer term holders

mirror.xyz/0xF99d0E4E3435…

Details on Season 2: Sats Campaign 💥

Details in the following tweet: mirror.xyz/0xF99d0E4E3435…

Announcing the @ethena_labs public mainnet 🌅

Details on our "Shard Campaign" in the following tweet Our one and only landing page for the shard campaign is:



Please do not click on any links that might proceed this thread.

We will note where we finish the thread

There are only 8 steps to collect shards we have listed below:ethena.fi

1/ This week's research update thread covers CeFi vs CME market dynamics, stablecoins, liquid staking and lending markets as part of our regular research updates 🧵 2/ The spread between CeFi futures basis and CME's stayed positive since the end of October, highlighting a strong demand from institutional investors in the midst of spot ETF rumours

Tradfi paying more for their crypto exposure than CeFi

1/ Presenting a chart thread on derivatives, stablecoins and LST markets as part of our regular research updates 🧵 2/ Starting with a busy derivatives market:

ETH Derivatives volumes rose to their highest levels this year, above the 2023, 2022 and 2021 daily averages with 24hr volumes of over $30bn

1/ Ethena is excited to announce our $6.5M seed round led by @dragonfly_xyz, with participation from @cryptohayes and major derivative exchanges

The round is the first milestone in our mission to develop the first scalable stablecoin not dependent on the banking system 2/ We’re developing two key products for the space:

The first is a scalable crypto-native stablecoin: $USDe

USDe is fully collateralized onchain and maintains stability through delta-hedging ETH collateral on centralized and decentralized exchanges