Ethereal

USDe

Ethena

<ul class="wp-block-list">
 <li>Ethena proposes Ethereal DEX integration for enhanced USDe reserve transparency.</li>
 <li>ENA token surges 11% as community discusses integration and stablecoin launch.</li>
</ul>
Ethena community is actively discussing a new proposal aimed at integrating a decentralized exchange (DEX) named Ethereal into its reserve management system, establishing Ethereal as the network’s fully on-chain venue for spot and derivative positions backing its synthetic stablecoin, USDe. The <a href="https://gov.ethenafoundation.com/t/introducing-ethereal-request-to-ethena-governance-on-integration/154" target="_blank" rel="noopener noreferrer nofollow">proposal</a>, submitted by a member known as “Fells0x,” seeks community support for the integration, which is anticipated to facilitate hedging transactions through Ethena’s hedging engine.
Fells0x highlighted the mutual benefits of this integration, stating that Ethereal could generate new demand for USDe while providing increased transparency, as USDe backing management would be managed entirely on-chain. Furthermore, the Ethereal team has proposed allocating 15% of any future governance tokens to Ethena (ENA) token holders.
Meanwhile, Ethereal is expected to launch its testnet in the fourth quarter of this year. Designed to process one million operations per second with sub-20 millisecond latency. The DEX aims to match centralized <a href="https://thenewscrypto.com/south-korean-bithumb-sets-its-next-milestone-as-us-market-listing/" target="_blank" rel="noopener noreferrer nofollow">exchange</a> performance while ensuring complete self-custody. Features such as cross-margining, liquidity automation, and portfolio margining are also planned for implementation.
In a response to the proposal, Ethena Labs announced via X that a snapshot for community voting would be released shortly, although no specific date has been provided.
<h3 class="wp-block-heading" id="h-ena-hits-29d-high">ENA Hits 29D High&nbsp;</h3>
Ethena recently revealed plans to launch a new stablecoin, UStb, in partnership with Securitize, a real-world asset tokenization platform. This new stablecoin will be backed by <a href="https://thenewscrypto.com/blackrocks-spot-ether-etf-surpasses-1-billion-in-net-asset-value/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>’s tokenized U.S. Treasuries fund, BUIDL.
Meanwhile, the native token ENA is trading at $0.3958. It marks an 11% <a href="https://coinmarketcap.com/currencies/ethena/" rel="noopener noreferrer nofollow">price</a> surge in the last 24 hours and a trading volume increase of 185%, reaching a 29-day high of $0.4224. Over the past week, ENA has risen by 45%.
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<a href="https://thenewscrypto.com/south-korean-bithumb-sets-its-next-milestone-as-us-market-listing/" rel="noopener noreferrer nofollow">South Korean Bithumb Sets Its Next Milestone as US Market Listing</a>

Ethena Proposes Ethereal DEX Integration for USDe Management

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