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Ethena Labs has partnered with Bybit, the third largest offshore exchange, to integrate its USDe stablecoin as a collateral asset on Bybit's platform. This collaboration aims to enhance USDe's utility by including it in bitcoin and ether spot trading pairs with zero fees, and as a collateral for perpetual futures trading. Additionally, USDe will be featured on Bybit's Earn platform, potentially offering up to 70% annual percentage yield (APY) on collateral. Following the announcement, Ethena's governance token jumped 8%. This strategic move is seen as a significant step for USDe in competing with other major stablecoins like USDT.
.@Ethena_labs's governance token jumped 8% after crypto exchange Bybit endorsed the protocol's USDe token as a collateral for perpetuals trading. @sndr_krisztian reports https://t.co/eINszo02sP
🔥 @ethena_labs keeps making moves Bybit is integrating USDe as a collateral asset, along with pairing it for zero-fee trading with BTC and ETH pairs. Who's gonna win the stablecoins wars? Like for USDe, comment for USDT or USDC. Read more: https://t.co/FfuPmqbJQC
USDe will be integrated into Bybit, the third largest offshore exchange, including USDe as a collateral asset to trade perpetual futures, BTC and ETH - USDe zero-fee spot pairs, USDe launch within the Bybit’s “Earn” platform. https://t.co/R65yrgL1Li
