Ethena Onboards Bitcoin as Backing Asset to Make USDe ‘Safer’
The platform will use a cash-and-carry trade to short bitcoin futures and pocket funding rates to generate yield on its USDe tokens.
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The platform will use a cash-and-carry trade to short bitcoin futures and pocket funding rates to generate yield on its USDe tokens.
The stablecoin earns yield by shorting ether futures and capturing funding rates – which have surged in the past two weeks.