Extending USDe backing: basis on equity perpetuals.
Equity perpetuals now carry nearly >$6bn of open interest across 200 contracts on the same venues Ethena already executes, growing >10x since March.
Funding rates on equity perpetuals have paid 15-20% on average, >5x the
We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below:
1. Buyout of early investors:
The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any
Following the recent reduction of mint fees on USDC to 0bps, USDC:USDT secondary market pricing is now at parity.
We are pleased to share USDT mints for Ethena USDe are now also free at 0bps for all onboarded mint and redeem users.
Mint and redeem fees remain subject to change
We're pleased to announce that, having taken onboard user feedback, every onboarded Ethena mint user is now able to mint & redeem USDe with USDC for free.
Instant liquidity into and out of USDe at 0bps cost for whitelisted users is expected to result in less value leakage on