Ethena Labs proposed to the USDe community that SOL be added as collateral. USDe protects its $1 peg with collateral, hedges, and risk-managed reserves. If this proposal is accepted, SOL will slowly join USDe’s collateral assets, targeting an initial $100-200 million SOL position. 💼📈

What sets USDe apart from other stablecoins is that it is not backed 1:1 by fiat assets. What do you think about this news? Let’s discuss it in the comments!