DeFi
Ethena Roadmap: Connecting DeFi, CeFi and TradFi
Ethena Labs presented its new roadmap, promising convergence between ChallengeCeFi and TradFi.
It’s synthetic stable coinUSDe, aims to replicate what Tether’s USDT did in 2014 and MarkerDAO in 2017.
Ethena’s vision: DeFi, CeFi and TradFi convergence
According to Challenge protocol, USDe succeeds because its reserves are more than double the open interest in each perpetual DEX combined.
Ethena explain in its roadmap that it can provide valuable “non-toxic” flows to DEX and CEX exchanges using USDe as collateral and triggering open interest. He highlighted that they act as neutral infrastructure, which has resulted in a protocol allocation of up to $1.25 billion in favor of USDe.
“As other stablecoin issuers grow and proliferate via DeFi, Ethena will grow with them. The foundation in the eventually markets are higher real returns. USDe will be the central building block on which these interest rate markets will be built,” Ethena said.
Learn more: What is the Ethena protocol and its synthetic dollar USDe?
ENA price performance. Source: CoinMarketCap
After launching its roadmap, Ethena’s native token, ENA, climbed more than 8%, from $0.85 to $0.93. ENA is in a bull rally, having risen 18.22% in the past week and 47.24% since its launch, with a market cap of $1.41 billion.
Disclaimer
In accordance with the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and current information. Readers are, however, advised to independently verify the facts and seek professional advice before making any decision based on this content. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.