
Ethena, a new player in the cryptocurrency market, is making significant strides by integrating Bitcoin and collaborating with Pendle and MakerDAO to potentially become a new generation of stablecoin. The platform has introduced USDe, aiming to disrupt the traditional stablecoin market dominated by USDT and USDC. Analysts suggest that USDe, a $2.3 billion product, could significantly impact the stablecoin landscape. Additionally, Ethena's 2024 roadmap reveals ambitious plans, including using USDe as a central piece in an aggregated liquidity layer for centralized and decentralized exchanges. The roadmap also highlights the development of the Ethena network, which is expected to generate billions in trading volume and liquidity from day one, distinguishing it from other chains or Layer 2s that struggle initially for liquidity. In related news, $RNDR surged by 2.3% after Apple featured Octane X in a keynote, enhancing the M4 chip with Render Network's decentralized GPU power.
Most chains or L2s launch without a product. They have to fight for liquidity and trading volume. But Ethena already has 2.3B in TVL and trades billions in notional. Ethena chain can skip a lot of steps and bootstrap a trading/yield ecosystem pretty much day 0
Ethena generates billions in trading volume at 2.3B TVL that’s hedged with perps If you wanted to build a perp DEX on a chain, Ethena network makes the most sense as there’s demand on day 0 https://t.co/evqWXjsFDD
The most exciting aspect for me here is the Ethena network USDe is a 2.3B product trading billions in perp volume on CEXes. Imagine if this trading demand went to a perp DEX on the Ethena network itself 👀 https://t.co/SGynf7mnr3
