A significant shift in the cryptocurrency trading landscape is underway as over $30 billion in USD collateral, previously earning zero returns on derivative exchanges, is now being utilized more effectively. Kraken Pro has launched perpetual futures for Layer 3, offering over 30 collateral options and 190 markets. This development allows traders to earn yield on their USDe collateral while trading derivatives, enhancing capital efficiency. Additionally, GMX has introduced a new ETH/USD perpetual market on Arbitrum, supported by a liquidity pool that includes wrapped staked ETH (wstETH) from Lido and the USDe synthetic dollar from Ethena Labs. This market is powered by Chainlink's Data Streams, which provide sub-second pricing updates for improved on-chain execution.