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Elixir, a modular blockchain project, has launched a new synthetic dollar asset named deUSD, aiming to compete with Ethena's USDe. The fully decentralized deUSD is designed to maintain its peg through arbitrage mechanisms and offers yield to holders via a cash-and-carry trade, utilizing stETH as collateral while shorting ETH. Elixir claims to have secured $1 billion in liquidity to support this new token. The launch of deUSD is part of Elixir's strategy to provide liquidity for decentralized orderbook exchanges and enhance the functionality of the DeFi ecosystem. The project has reportedly raised $17 million and has garnered support from various DeFi platforms.
USDE DROPS ON BYBIT: MAJOR MOVE FOR TRADERS Ethena Labs’ USDe is now live on Bybit as margin collateral, offering up to 20% APR and new rewards. This move adds serious stability and flexibility for traders. Bybit’s Ben Zhou and Ethena’s Guy Young are eyeing a $4 billion TVL… https://t.co/KkshsDJ7kB
JUST IN: ETHENA LABS' SYNTHETIC STABLECOIN, USDE, LAUNCHES ON BYBIT AS MARGIN COLLATERAL WITH ANNUAL PERCENTAGE RATE OF UP TO 20%
ELIXIR LAUNCHES DEUSD SYNTHETIC DOLLAR Elixir has unveiled deUSD, a fully decentralized synthetic dollar designed to challenge Ethena’s USDe. The new asset is supported by $1 billion in liquidity and offers additional yield for stakers, backed by stETH collateral. The project,… https://t.co/MoRBgq3s5I