Engineering
TL;DR Today, Ethena Labs launches a Proof of Reserves (PoR) system for USDe, Ethena’s synthetic dollar, to cryptographically prove its backing - transparently reserved, governance-approved, and USD-delta-neutral. Built on AWS Nitro Enclaves, it pulls data from custodians, exchanges, and the blockchain, processes it in a tamper-
Transparency
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our twelfth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions.
News
Season 3 Highlights March 23rd marked the end of Ethena Season 3 and the beginning of Season 4. At the start of Season 3, USDe supply was $3bn and had just been integrated on Bybit and Bitget as the first centralized exchange partners, with minimal traction on Aave as sUSDe
News
We are excited to share that USDe has been widely integrated throughout Deribit, the industry’s leading options and derivatives exchange. The integration includes the following features: Spot listings include: * BTC/USDe * ETH/USDe * USDe/USDC * USDe/USDT * 0 trading fees for all USDe pairs. * USDe as a rewarding asset
News
USDtb Listing USDtb, an Ethena ecosystem stablecoin backed by Blackrock’s BUIDL, has been listed on Bybit and will be available as margin collateral within the next week. As of March 6th, Bybit users are able to earn up to 5.00% APR, paid daily by Bybit, for simply holding
Transparency
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our eleventh attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions.
News
We are excited to share that USDe will be widely integrated throughout MEXC as of Febraury 27th. The integration will include the following features: Spot listings include: * USDe/USDT * BTC/USDe * ETH/USDe * ENA/USDe * SOL/USDe * XRP/USDe * 0 trading fees for all USDE and ENA listed pairs. * USDe
Research
Summary * Largest ever hack gave Ethena the chance to demonstrate the benefits of off-exchange custody solutions and validated USDe’s design decisions. * Ethena holds zero dollar value of the USDe backing assets directly on exchanges, and was able to fully realize $30m of unrealized profit associated with open Bybit
Transparency
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our tenth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions.
News
Ethena’s USDe and sUSDe were further integrated into Spark’s Liquidity Layer today via enabling direct holding of USDe and sUSDe, up to a total allocation of $1.1 billion in the near term. Onboarding Ethena into the Spark Liquidity Layer will allow Spark to access Ethena rewards directly
Transparency
In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our ninth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions.
News
Today Usual, one of the fastest stablecoin issuing protocols, has announced it will be moving to integrate both USDtb and sUSDe as a core part of its business strategy moving forward. Ethena Labs is excited to support Usual as they benefit from integrating the composable and DeFi-first properties of