⚡️ @Binance bStocks Potentiated or Expanded Backing Mechanism of USDe at $ENA
@Ethena is expanding its basis trade operations behind the $USDe to equities, using the @bstocksfinance from Binance as a tokenized spot collateral token and Binance equity perps to hedge the position.
The #Binance equity perps carry over $2.9 billion in open interest, growing at a compounded monthly rate of 105% this year, with the equity basis averaging 3.56% annualized over the past six months.
Ethena founder @gdog97_ called this "the most significant expansion of the USDe funding mechanism since we started."
@Ethena is expanding its basis trade operations behind the $USDe to equities, using the @bstocksfinance from Binance as a tokenized spot collateral token and Binance equity perps to hedge the position.
The #Binance equity perps carry over $2.9 billion in open interest, growing at a compounded monthly rate of 105% this year, with the equity basis averaging 3.56% annualized over the past six months.
Ethena founder @gdog97_ called this "the most significant expansion of the USDe funding mechanism since we started."
