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Synthetic Dollar Surge. Ethena’s assets are being rapidly adopted across crypto! Why are protocols desperate to incorporate USDe, and what impacts have integrations had on token price?
Given the extremely high yields that Ethena’s assets are generating, with sUSDe earning best-in-class returns for a stablecoin from funding/staking payments and USDe throwing off tremendous airdrop rewards, demand for the various types of financial products that can be synthesized from these assets is high, and users are willing to pay a premium to obtain them!
The Total Value Locked (TVL) on Pendle has increased by $800 million in the past week, with over 40% of the increase attributable to USDe.
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