{"id":19919,"date":"2024-05-07T17:30:36","date_gmt":"2024-05-07T17:30:36","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19919"},"modified":"2024-05-07T16:19:45","modified_gmt":"2024-05-07T16:19:45","slug":"bybit-adds-usde-for-perpetual-futures-collateral","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bybit-adds-usde-for-perpetual-futures-collateral\/","title":{"rendered":"Bybit Adds USDe for Perpetual Futures Collateral"},"content":{"rendered":"<p><a href=\"https:\/\/www.bybit.com\">Bybit<\/a>, a cryptocurrency exchange, and <a href=\"https:\/\/coinengineer.net\/blog\/ethenas-usde-caused-controversy-in-its-yield-plan\/\">Ethena <\/a>have announced a cooperation to make <strong>USDe<\/strong> a collateral asset for trading perpetual futures of all assets in the Bybit UTA. This might give customers the chance to earn interest and &#8220;unlock greater capital efficiency.&#8221;<\/p>\n<p>An official announcement states that <strong>USDe<\/strong> spot trading pairs for bitcoin and ether will also be added as part of the integration. Along with the debut of USDe on the exchange&#8217;s Earn platform, customers will soon be able to farm Bybit launchpools using their synthetic dollars.<\/p>\n<p>&#8220;The integration between Ethena and Bybit is a major milestone in fueling the use cases for <strong>USDe<\/strong>,&#8221; remarked Guy Young, CEO and founder of Ethena Labs. <em>&#8220;Bybit is one of the most important derivative venues in all of crypto.<\/em>&#8220;By offering <strong>USDe<\/strong> as collateral on Bybit, the US dollar will unlock its next wave of growth and challenge the existing stablecoin hegemony with a tailored product purpose-built for crypto-natives,&#8221; they added.<\/p>\n<p>The stablecoin, developed and promoted by Ethena Labs, is supposedly &#8220;the first-ever scalable synthetic dollar.&#8221; Following last month&#8217;s airdrop of its governance token, ENA, to qualified users, the organization&#8217;s <strong>USDe<\/strong> now has bitcoin as a backing asset.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bybit, a cryptocurrency exchange, and Ethena have announced a cooperation to make USDe a collateral asset for trading perpetual futures of all assets in the Bybit UTA. This might give customers the chance to earn interest and &#8220;unlock greater capital efficiency.&#8221; An official announcement states that USDe spot trading pairs for bitcoin and ether will<\/p>\n","protected":false},"author":6,"featured_media":19926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[654,5320,4833],"class_list":["post-19919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bybit","tag-ethena-usde","tag-usde"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bybit Adds USDe for Perpetual Futures Collateral - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bybit integrates Ethena&#039;s USDe as collateral for futures, offering interest &amp; efficiency. 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