Ethena announces integration with exchange wallets

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Business Business Headlines News

Ethena tokens have surpassed a diluted market cap of $20 billion since the protocol's launch this year.

Synthetic stablecoin protocol Ethena Labs has integrated with centralized exchange wallets of Binance, Bybit, OKX, and Bitget as of April 10.

“Users locking USDe for at least 7 days through exchange Web3 wallets are eligible for a 20% reward boost starting today,”Ethena developers. The incentives, issued in the form of “Ethena sats,” can be converted to its native ENA token at the end of each campaign. To earn sats, users must first deposit Ethena USDe stablecoins into their exchange wallets, connect to the Ethena decentralized finance protocol, and stake their holdings. The protocol has a total value locked of $2.

Meanwhile, Ethena's yields, which are publicly verifiable, are derived from a combination of Ethereum consensus layer inflation rewards, execution fees paid to Ether stakers, maximal extractable value fee captures acquired by Ether stakers, and trading income provided by Ethena Labs. Specifically, the firm opens short derivative positions when it receives long-position collateral assets for minting USDe.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trader bets over $20 million Nvidia stock will rise 30% by next earnings reportTrader bets over $20 million Nvidia stock will rise 30% by next earnings report
Source: Investingcom - 🏆 450. / 53 Read more »