Ethena Labs supplied its original roadmap, promising a convergence between DeFi, CeFi, and TradFi.
Its synthetic stablecoin, USDe, targets to replicate what Tether’s USDT did in 2014 and MarkerDAO did in 2017.
Ethena’s Imaginative and prescient: DeFi, CeFi, TradFi Convergence
In line with the DeFi protocol, USDe succeeds because its reserves symbolize more than double the open hobby in each mixed perpetual DEX.
Ethena outlined in its roadmap that it is going to give precious ‘non-toxic’ flows to exchanges DEX and CEX by the spend of USDe as collateral and triggering open hobby. It emphasised that they act as a just infrastructure, which has resulted in as much as $1.25 billion in protocol allocation in the direction of USDe.
“As utterly different stable coin issuers grow and proliferate through DeFi, Ethena will make bigger in conjunction with them. The foundation within the futures markets is increased actual yields. USDe could well well per chance be the core ingredient on which these hobby fee markets can be constructed,” Ethena said.
Be taught more: What Is Ethena Protocol and its USDe Synthetic Dollar?
After launching its roadmap, Ethena’s native token, ENA, soared more than 8%, rising from $0.85 to $0.93. ENA is in a bullish rally, having risen 18.22% closing week and 47.24% since its launch, with a market capitalization of $1.41 billion.
