Ethena Labs has announced that USDe, its Ethereum-based stablecoin, will be integrated into Bybit, the third largest crypto exchange by trading volume.
New Integrations
USDe will be used on Bybit as:
- Collateral for perpetual futures
- Spot trading pair for Bitcoin (BTC) and Ethereum (ETH)
- Part of Bybit’s Earn program
Ethena’s Vision
Ethena Labs describes USDe as an “industry-first scalable synthetic dollar” that maintains its USD peg with ETH and BTC backing.
Market Impact
Since the announcement, ENA, the governance token of the Ethena blockchain, has experienced a slight decline of 2.8%. However, it remains 9% up in the last 24 hours.
