{"id":14941,"date":"2024-03-08T15:45:09","date_gmt":"2024-03-08T15:45:09","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=14941"},"modified":"2024-03-08T13:56:30","modified_gmt":"2024-03-08T13:56:30","slug":"ethena-labs-secures-4-million-for-usde-treasury-in-stablecoin-project","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethena-labs-secures-4-million-for-usde-treasury-in-stablecoin-project\/","title":{"rendered":"Ethena Labs Secures $4 Million for USDe Treasury in Stablecoin Project"},"content":{"rendered":"

Ethena Labs, a stablecoin project, has successfully raised over $4 million for its treasury within just two weeks of its launch.<\/p>\n

The project’s stablecoin, USDe, aims to maintain a peg of $1 by shorting ether (ETH<\/a>) futures and capitalizing on funding rates, which have surged over the past fortnight. According to @MacroMate8, head of growth at the firm, USDe generated an annualized yield of over 68% on deposits as of Friday. After distributing payouts to users, Ethena Labs could retain $4 million for its treasury, boosting the total to over $16 million from nearly $12 million.<\/p>\n

With its remarkable earnings, Ethena has emerged as the third-largest revenue generator in the crypto market, trailing only the Tron and Ethereum blockchains.<\/p>\n

Ethena’s impressive yields primarily stem from the elevated ether-future funding rates and staking ether to a validator, which currently yields less than 4% annually as of Friday.<\/p>\n

Funding rates represent payouts to traders based on their positions\u2014longs pay shorts when prices rise, borrowing capital to place larger bets, and vice versa.<\/p>\n

Users have the option to deposit stablecoins like tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD), and mkUSD to acquire Ethena\u2019s USDe, which can then be staked. Unstaking requires a seven-day period. Staked USDe tokens can also be supplied to other DeFi platforms to earn additional yields.<\/p>\n

According to DefiLlama data, the total value locked on Ethena has surged to $833 million as of Friday, climbing from $300 million in mid-February following its public launch.<\/p>\n

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Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Ethena Labs, a stablecoin project, has successfully raised over $4 million for its treasury within just two weeks of its launch. The project’s stablecoin, USDe, aims to maintain a peg of $1 by shorting ether (ETH) futures and capitalizing on funding rates, which have surged over the past fortnight. According to @MacroMate8, head of growth<\/p>\n","protected":false},"author":1,"featured_media":14942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4390,488,4833],"class_list":["post-14941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethena-labs","tag-stablecoin","tag-usde"],"yoast_head":"\nEthena Labs Secures $4 Million for USDe Treasury in Stablecoin Project - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Ethena Labs, a stablecoin project, has successfully raised over $4 million for its treasury within just two weeks of its launch.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethena-labs-secures-4-million-for-usde-treasury-in-stablecoin-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethena Labs Secures $4 Million for USDe Treasury in Stablecoin Project - 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