Ethena has introduced a partnership that may permit customers to deposit USDe on Ether.fi in alternate for a brand new liquid restaking token, or LRT. The brand new LRT, referred to as eUSDe, may even present a dollar-pegged asset for EigenLayer readmissions, based on the announcement. Because the first-ever dollar-pegged collateral utilized in EigenLayer, the eUSDe LRT will present a singular alternative for reinvestors throughout a number of methods and protocols to make use of much less risky collateral for his or her reinvestment actions.
Ether.fi has greater than $5.7 billion in TVL, based on information from crypto information platform DeFi Llama. As a part of the Ethena and Eigenlayer integration, Ether.fi’s USDe vault will permit customers to deposit numerous stablecoins in alternate for a brand new eUSDe LRT, which will likely be used to safe different methods and protocols as a part of a basic readmission
Ethena makes use of a derivatives buying and selling technique to keep up the soundness of its artificial USDedollar, taking quick positions in ETH or ETH-linked derivatives to offset losses in ETH collateral. Final month, Ethena Labs introduced a brand new integration that may permit customers to purchase and promote their USDe stablecoin on Solana.
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