USDe Surpasses $320 Million on Robinhood Chain in Just Eight Weeks
Ethena's USDe has surpassed $320 million in just eight weeks on Robinhood Chain, accounting for 42% of the chain's stablecoin supply. This growth is a significant milestone for the platform and highlights its increasing adoption.
According to Token Terminal data, USDe is now the network's largest external dollar asset, behind Robinhood Chain's own USDG. The rapid expansion of USDe can be attributed in part to Ethena's role as the primary collateral issuer for Robinhood Earn.
A significant contributor to this growth was the flow of liquidity from the Steakhouse USDG Vault into the USDe/USDG Morpho market, which accounted for 62%-65% of total liquidity. This influx of capital has cemented USDe's position as a leading stablecoin on the Robinhood Chain.