In 2024, Ethena introduced a new stablecoin, USDtb, aimed at enhancing performance in volatile cryptocurrency markets.
Introduction to Ethena and Stablecoins
Ethena, a rapidly growing DeFi platform, has announced the launch of its new stablecoin USDtb. The project aims to maintain stability and improve performance in bearish market conditions.
Features and Functioning of USDtb
USDtb is pegged to the US dollar and holds 90% of its reserves in BUIDL, a tokenized money market fund issued in partnership with BlackRock and Securitize. This supports its stability and allows for operation in bearish market conditions.
Ethena's Strategy and Future Development
Ethena has attracted about $6 billion in user funds since going public. The USDe token maintains its $1 price via a unique investment strategy. The new stablecoin USDtb will serve as a balancing mechanism to mitigate risks.
The launch of USDtb is poised to improve the stability of Ethena users in bearish market conditions, offering a product with a unique risk profile.
