USDe is already backed by Ether, Ether-based liquid staking tokens and Tether, but Ethena says Bitcoin will provide more “safe” and “robust” product for USDe token holders.

According to the latest data from Coingecko, the market value of Ethena USDe has exceeded 2 billion US dollars, reaching 2,000,246,184 US dollars at the time of writing, setting a new historical high. Earlier news stated that Ethena Labs, the developer of USDe, announced on the X platform that it had opened up airdrop token applications. On April 2, the market value of Ethena USDe surpassed 1.5 billion US dollars for the first time, which means that it has grown by nearly 35% in less than three days, and it is currently the fifth largest stablecoin in terms of market value.

Ki Young Ju, CEO of CryptoQuant, stated on social media that Ethena (ENA) is CeFi rather than DeFi, and there are risks related to custody/execution.

On April 3rd, Seraphim, the growth manager of Ethena Labs, posted on X platform that users can view the collateral composition of USDe through the official UI. Currently, USDe's collateral includes $600 million worth of USDT and $830 million worth of ETH, which accounts for 75% of the total value of USDe's collateral. Overall, 75% of USDe's collateral has strong liquidity. In extreme cases, before the redemption of the 75% collateral, the remaining LST can also be converted back to ETH.

According to the latest data from Coingecko, Ethena USDe's market value has surpassed $1.8 billion, reaching $1,818,919,105 at the time of writing, setting a new historical high. Earlier news stated that Ethena Labs, the developer of USDe, announced the opening of token airdrops on the X platform. The market value of Ethena USDe broke through $1.5 billion yesterday, meaning that this indicator has grown by more than 20% in the past 24 hours.

According to the latest data from Coingecko, the market value of Ethena USDe has exceeded $1.5 billion, reaching $1,574,083,487 at the time of writing, setting a new historical high. Earlier, Ethena Labs, the developer of USDe, announced on X platform that token airdrops were now available for application.

Scopescan monitoring shows that a whale has just received 3.3 million ENA tokens (currently worth about 1.95 million US dollars) from Ethena Labs' airdrop.

Ethena's stablecoin USDe supply has exceeded 1.5 billion, and the contract positions opened by the protocol account for 15% of the global ETH contract positions.

Ethena Labs released an update regarding the Shard Campaign: Starting from March 11th, the Shard reduction will take effect and bring about the following changes: -The CurveLP position Shard multiplier will decrease from 20x to 15x; -The Shard multiplier for holding USDe outside of qualifying pools will decrease from 5x to 2x; -Other pools are not affected. This is equivalent to a daily reduction of approximately 1 billion Shards, or about 12% of Shards per day.

According to CoinDesk on March 8th, Ethena Labs' stablecoin USDe has obtained a reserve of $4 million through Ethereum futures financing rates and delegating Ethereum to validators. The project achieved early success with a controversial concept, increasing its reserve to over $16 million and becoming the third largest source of revenue in the cryptocurrency market.