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Ethena, Bybit Boost USDe in Crypto with 70% APY, Zero-Fee Trading
May 7, 2024, 04:43 PM
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.
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Zero trading fees • 33%
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Moderate increase • 33%
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Significantly improved • 25%
Somewhat improved • 25%
No significant change • 25%
Declined • 25%
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Second most used stablecoin • 25%
Third most used stablecoin • 25%
Outside top three • 25%
USDe surpasses USDT and USDC • 25%
USDe surpasses USDT but not USDC • 25%
USDe surpasses USDC but not USDT • 25%
USDe does not surpass either • 25%