Ethena’s Synthetic Dollar USDe Exceeds $1B Supply
Just one month after Ethena Labs launched USDe, a crypto-native synthetic dollar, the total supply has exceeded 1 billion.
- Just one month after Ethena Labs launched USDe, a crypto-native synthetic dollar, the total supply has exceeded 1 billion.
- This is the fastest time period in which a dollar based crypto asset has reached 1 billion dollars into mainnet.
- Backed by Dragonfly, BitMEX founder Arthur Hayes and every major derivative exchange in crypto, Ethena’s synthetic dollar USDe was brought to market alongside the value accruing “Internet Bond” sUSDe.
- While USDe is a comparable asset to traditional stablecoins in certain aspects, the launch of USDe marks the debut of a new unique digital asset class: the synthetic dollar.