MEXC Ventures Allocates $36M to Ethena and USDe as Demand for Stablecoins Grows
The investment will enhance adoption of synthetic dollars in decentralized finance.
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The investment will enhance adoption of synthetic dollars in decentralized finance.
Ethena Labs has adopted Chaos Labs' Edge Proof of Reserves oracles to improve the risk management of its synthetic USDe token, ensuring transparency and security.
Ethena has raised $100 million to develop the USDe stablecoin, now valued at around $6 billion, becoming the third largest in the market.
Despite market fluctuations, the USDe synthetic stablecoin has managed to maintain stability with its market cap exceeding $6 billion.
Ethena Labs is proposing to incorporate the Solana (SOL) cryptocurrency into the collateral backing its USDe stablecoin, pending approval from its Risk Committee.
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