Decentralized finance (DeFi) project Ethena has announced the launch of its new stablecoin, USDtb, in an effort to stabilize its flagship USDe token during bearish market conditions. USDtb aims to maintain a steady price of $1 and holds 90% of its reserves in BUIDL, a tokenized money market fund issued by BlackRock and Securitize. Ethena, which has seen significant growth this year with nearly $6 billion in user funds, plans to use USDtb to close derivatives positions behind USDe and mitigate risks during periods of negative funding rates. The protocol also aims to have USDtb accepted as collateral for margin trading on centralized exchanges. Ethena has enlisted several custodians and liquidity providers for USDtb, and has applied for Sky's Tokenization Gran Prix program. The project's governance token recently caught the attention of World Liberty Financial, which purchased $500,000 worth of tokens.



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