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About Ethena USDe
USDe is a crypto-native, delta-hedged synthetic dollar protocol developed by Ethena Labs. It is designed to provide a scalable, stable financial solution that operates independently of traditional banking infrastructure. USDe maintains its peg through a delta-neutral strategy, utilizing staked Ethereum and Bitcoin as collateral while balancing them with offsetting short perpetual and futures positions in derivatives markets. Known as the 'Internet Bond', USDe combines staking rewards from its underlying assets with yield derived from funding and basis spreads in derivative markets to offer a globally accessible, dollar-denominated savings instrument.
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