Dollar

USDe

Million

Billion

Elixir

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/elixir-introduces-deusd-to-compete-with-ethenas-usde/" data-wpel-link="internal">Elixir Introduces deUSD to Compete with Ethena’s USDe</a><br></p>
<p style="text-align: justify">Elixir, a modular blockchain project aimed at providing liquidity for decentralized order book exchanges, announced the launch of deUSD, a synthetic dollar asset challenging Ethena’s USDe. The USDe stablecoin, owned by Ethena Labs and also known as a “synthetic dollar,” maintains its peg through arbitrage and yield-generating cash-and-carry trade. The project is fully collateralized with <a href="https://en.coin-turk.com/bitcoins-btc-recent-performance-and-the-decline-in-the-crypto-market/" data-wpel-link="internal">crypto</a> assets and delta-hedged to ensure stability.</p> 
<h2 style="text-align: justify" id="1-billion-dollar-liquidity">1 Billion Dollar Liquidity</h2> 
<p style="text-align: justify">Elixir Labs founder and CEO Philip Forte made the following statement:</p> 
<blockquote> 
 <p>Elixir’s network, built and stress-tested over the past two years, is well-suited to power a truly decentralized synthetic stable asset. deUSD was built with transparency and flexibility as core features, eliminating reliance on underlying <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> trends and unstable yield sources.</p> 
</blockquote> 
<p style="text-align: justify">Elixir receives support from DeFi platforms like Pendle, which create and tokenize a market for Elixir’s Apothecary initiative, a point-based system for tracking user contributions to the network. Additionally, it is said to have $1 billion in liquidity to support the new yield-generating token.</p> 
<p style="text-align: justify">Following the Apothecary program in March, Elixir stated that over $300 million in assets were locked in addition to the $1 billion committed for deUSD, generating excitement for the mainnet launch expected in September.</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-375782" src="https://coin-turk.com/wp-content/uploads/2024/07/de-usd-coin-turk-com.png" alt="" width="418" height="66"></p> 
<h2 style="text-align: justify" id="elixir-and-800-million-valuation">Elixir and $800 Million Valuation</h2> 
<p style="text-align: justify">In March, when Elixir unveiled Apothecary, it announced the completion of an $8 million Series B funding round led by Sui blockchain developer Mysten Labs and Arthur Hayes’ family office Maelstrom.</p> 
<p style="text-align: justify">With the latest capital injection, the project’s valuation reached $800 million, bringing it close to unicorn status. This marks an eightfold increase in valuation since the $7.5 million Series A round led by Hack VC in October 2023.</p> 
<p style="text-align: justify">Following a $2.1 million seed round in January 2022, Elixir has raised over $17 million in total funding.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/elixir-introduces-deusd-to-compete-with-ethenas-usde/" data-wpel-link="internal">Elixir Introduces deUSD to Compete with Ethena’s USDe</a></h5>
<p>The post <a href="https://en.coin-turk.com/elixir-introduces-deusd-to-compete-with-ethenas-usde/" data-wpel-link="internal">Elixir Introduces deUSD to Compete with Ethena’s USDe</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Elixir Introduces deUSD to Compete with Ethena’s USDe

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