Stablecoin

DeFi

USDe

Ethena

Frax

Ethena Labs, a Decentralized Finance (DeFi) firm, has released its latest triple attestation reports to affirm the underlying assets behind its USDe stablecoin valued at $2.67 billion. The reports also ensure that the assets are kept off-exchange within institutional custodial solutions.&nbsp; 
Precisely, Copper Markets AG holds USDe reserves of $1.31 billion, CH Europe Digital Solution (CEFFU) holds USDe reserves of $1.33 billion, while Cobo Global HK Limited holds USDe reserves of $5.52 million. 
According to the <a href="https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/bwzBngcOk-n9XB0venIjS1OPiSx3-39GDcqUaOABpgM" target="_blank" rel="noopener">release</a>, the USDe stablecoin had a backing rate of 101.74% as of May 24, 2024, which means that it was over-collateralized. Ethena Labs had its reserve fund prepared for emergencies at $42.3 million, while the mint/redeem contract had an available balance of $15.4 million for redemptions. 
The company has continuously added more reserve assets to its reserves and collaborated with other liquidity pools, such as Frax Finance, over issues of systematic failures similar to earlier crypto crashes. Ethena Labs thus focuses on preventing such risks, striving to create a solid and transparent system that guarantees an independent evaluation of the backing assets, to increase the trust of the DeFi community. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/28/nomura-holdings-and-gmo-group-embark-on-stablecoin-venture-in-japan/">Nomura Holdings and GMO Group Embark on Stablecoin Venture in Japan</a> 
</blockquote>

Ethena Labs Unveils Triple Attestation for USDe Reserves

The Crypto Times

在 2024年5月27日發表的其他文章

The Staggering 187x Gain on MAGA Token-Turning $16.4K into $3.07M

Turning $1,000 Into $35,000 With 3500% Crypto To Buy Breakout

Ethereum (ETH) ETF Hype Boosts Crypto Market: Binance Coin (BNB), Toncoin (TON) and Rollblock (RB...

HashKey Global Launchpool, the world's first regulated platform for pledge to earn new tokens, is...

Best Memecoin and Altcoin Combos

Crypto Expert Names 5 Tokens That Will Skyrocket 55X in June

訂閱免費電子報，每天收取加密貨幣最新動態！