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Crypto

Ethena Labs Launches Synthetic Stablecoin USDe on Solana Network

Guavy AI Editorial Team
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ETH SOL ENA JTO USDe
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Ethena Labs has launched its stablecoin USDe on the Solana network as of August 7.

This move allows borrowers to use SOL as collateral for USDe loans, pending approval from Ethena token holders.

USDe is integrated with several Solana applications, including Kamino Finance, Orca, Drift Protocol, and will soon be available on Jito.

The stablecoin aims to maintain a peg to the US dollar and generates yield from Lido Staked Ethereum (stETH) and short positions in the Ethereum perpetual futures market.

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