Polygon (matic) 
Ethena Labs Teams Up with Bybit to Introduce USDe Synthetic Stablecoin for Trading
Ethena Labs has partnered with Bybit, a leading crypto exchange, to bring its synthetic stablecoin USDe into the world of perpetual futures trading. This collaboration opens up new opportunities for traders by allowing them to use USDe as collateral, potentially increasing yield and capital efficiency.
Key Points:
– USDe can be used as collateral for perpetual futures trading on Bybit
– USDe will be paired with Bitcoin (BTC) and Ethereum (ETH) for spot trading
– Ethena’s stablecoin will be integrated into Bybit’s Earn platform for launchpool farming
The partnership between Ethena Labs and Bybit is a significant development for USDe adoption, offering traders more flexibility and trading options. Bybit users can now leverage USDe for perpetual futures trading, trade BTC and ETH spot pairs with zero fees, and participate in launchpool farming through the Earn platform.
Guy Young, founder and CEO of Ethena Labs, emphasized the importance of this partnership in challenging the dominance of existing stablecoins. He believes that offering USDe as collateral on Bybit will drive the next phase of growth for the stablecoin.
USDe, touted as the first-ever scalable synthetic dollar, aims to set itself apart in the competitive stablecoin market. With recent expansions in backing assets and the distribution of its governance token, ENA, Ethena Labs is well-positioned to make USDe a popular choice among crypto traders.
This collaboration with Bybit is a strategic move that is expected to boost USDe’s adoption and visibility in the cryptocurrency space. Stay tuned for more updates on Ethena Labs and USDe as they continue to make waves in the market.
