Ethena’s USDe Supply on Solana Surges by Over $450M in 4 Days
- Ethena’s synthetic dollar, USDe, experienced a $450 million supply increase on the Solana network within four days.
- The surge positions Solana as the primary center for USDe liquidity outside of Ethereum, with nearly ten times more USDe than HyperliquidX.
- USDe employs a delta-neutral hedging strategy, distinguishing it from traditional stablecoins like USDC and USDT.
- By April 2025, USDe became the third-largest dollar-pegged asset in all of DeFi, with a total supply of approximately $4.7 billion.
- The token’s multi-chain deployment is facilitated by LayerZero’s Omnichain Fungible Token standard, enabling seamless blockchain transfers.
Ethena’s synthetic dollar, USDe, saw a significant supply increase on Solana, highlighting its growing prominence in DeFi liquidity outside Ethereum.
Source (3.2)https://cryptobriefing.com/ethena-usde-solana-supply-surge/?rand=59535
