Ethena, an emerging protocol in the stablecoin sector, has announced the use of Binance Coin (BNB) to back its USDe perpetuals.
Key Steps in Stablecoin Growth
Ethena has officially named BNB as the first asset in its newly launched framework to support USDe perpetuals. This announcement marks a step towards enhancing the utility and stability of Ethena’s decentralized stablecoin, USDe. The inclusion of BNB allows traders to use it to back perpetual contracts on USDe, enabling users to speculate on the price of USDe without owning the underlying asset.
Expanding Utility and Ecosystem Integration
The integration opens new opportunities for decentralized finance (DeFi) applications using USDe. With BNB as a backing asset, projects built on BNB Chain can engage directly with USDe, creating additional liquidity and increasing the token’s use across various ecosystems.
Future of Ethena and USDe
More assets are expected to be added in the future to improve USDe's resilience against market volatility. The choice of BNB as the first asset demonstrates Ethena's confidence in its market strength and reflects a commitment to building a sustainable, scalable stablecoin protocol.
By adding BNB to back USDe, Ethena reaffirms its intentions to expand functionality and resilience of its stablecoin, supporting further growth and integration into the DeFi ecosystem.
