CandleFocus Ethena Labs Proposes SOL for USDe's Collateral
2024-10-14
Author: Content Editor
Ethena Labs has proposed adding SOL as collateral to USDe, a synthetic stablecoin that maintains a $1 peg through collateralization and hedged trades. Unlike other stablecoins backed by fiat assets, USDe stabilizes its value by using stablecoins as collateral and implementing hedging strategies. If approved, SOL will be gradually integrated into USDe with an initial allocation target of $100-200 million. The proposal also suggests utilizing liquid staking tokens like BNSOL and bbSOL. Additionally, Ethena Labs has allocated $46 million of its reserve fund for USDe to invest in tokenized real-world assets.
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