The Ethena project has announced the approval of Binance's BNB token as a new asset to support the hedging of the USDe stablecoin.
New Asset Framework
The new "Eligible Asset Framework" establishes strict liquidity, lending, and market-structure thresholds that assets must meet to be considered as collateral. According to the Governance post, both XRP and Hyperliquid's HYPE token already meet preliminary requirements.
Importance of BNB in the Market
The inclusion of BNB comes at a time when its role in regional markets is expanding, particularly with UAE-based RAKBANK recently integrating crypto trading into its app, listing BNB among the first supported assets.
Balancing Growth and Risk
Under the new system, only a portion of USDe’s hedges will reference additional large-cap assets, while the majority will continue to rely on established instruments like ether and bitcoin futures. This approach ensures that diversification does not compromise stability.
Ethena aims to expand its collateral sources, which will strengthen USDe's stability and potentially attract new tokens in the future.
