Ethena Introduces New Stablecoin Backed by BUIDL

user avatar

by Giorgi Kostiuk

2 years ago

Ethena introduces a new stablecoin USDtb, backed by the BUIDL token, to ensure its stability even amidst market volatility.

Keeping Things Stable

The new USDtb token aims to keep its price pegged at $1 by holding 90% of its reserves in BUIDL, a token tied to real-world assets managed by BlackRock. Ethena’s founder, Guy Young, stated that this token offers investors an additional tool, especially in downturns.

We saw an opportunity to offer a new stablecoin with a different level of risk while keeping users within our ecosystem.Guy Young

Why Is This a Big Deal?

Ethena's current flagship token, USDe, functions as a 'synthetic dollar,' but this strategy can become risky under bearish market conditions. In such scenarios, Ethena can redirect resources into USDtb, providing greater stability and protection from losses.

USDtb functions like a traditional stablecoin, utilizing cash and cash-equivalent reserve assets to back each token.None

Ethena’s Rapid Rise

Since its launch in early 2024, Ethena has attracted nearly $6 billion in user funds. The new USDtb token may help Ethena navigate challenges and offer users a safer option. The protocol also received a boost from an investment by World Liberty Financial.

The launch of USDtb will support Ethena through tough times, providing users with stability and security.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Moonshot AI Launches Kimi K31 Pro with Limited Offensive Capabilities

Moonshot AI has launched its Kimi K31 Pro model, intentionally excluding certain cyberattack-related data from its training.

user avatarTomas Novak

OCC's Final GENIUS Act Rule Takes Effect on January 18, 2027

The Office of the Comptroller of the Currency (OCC) has published final regulations for payment stablecoin issuers, effective January 18, 2027.

user avatarJesper Sørensen

Justin Sun Prize Pilot Program Launched to Reward Mathematical Discoveries

The Office of Justin Sun announces a pilot program for the Justin Sun Prize in collaboration with MathDB to reward mathematical discoveries.

user avatarRajesh Kumar

Charles Schwab Introduces Crypto Trading for US Clients

Charles Schwab has launched Schwab Crypto, enabling eligible US clients to trade Bitcoin and Ether at a fee of 0.75% per trade.

user avatarFilippo Romano

Policy Uncertainty Grows as Key Adviser for Digital Assets Office Departs

Policy uncertainty grows as key adviser for digital assets office departs, creating a policy vacuum amid ongoing regulatory discussions.

user avatarEmily Carter

Spot Bitcoin ETFs Face Major Withdrawals Amid Institutional Shift

Spot Bitcoin ETFs in the US experienced substantial net withdrawals totaling 909 million over two weeks.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.