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USDe maintains its peg to fiat currency by hedging against the price drop of it’s crypt assets reserves by selling corresponding futures

Ethena Foundation, the developer of USDe stablecoin, has raised $100 million via a private sale of their ENA governance tokens from investors, including Franklin Templeton

USDe, due to the usage of futures as a hedge for it’s reserves, if market conditions are favorable, is able to generate substantial yields, which traditional stablecoins do not provide

USDe's market cap has reached around $6 billion in February 2025, becoming the third largest stablecoin behind Tether's USDT and Circle's USDC, which are worth $142 billion and $57 billion

Ethena Foundation USDe staking rewards token iUSDe will have transfer restrictions mechanism making it suitable for regulated traditional financial institutions

USDe stablecoin, in contrast to traditional stablecoins, which are backed by fiat currencies, is backed by digital assets, including other stablecoins

Ethena Foundation will use the proceeds from the sale of ENA tokens to launch the staking rewards token iUSDe for traditional financial institutions, in addition to their existing sUSDe staking rewards token for general usage

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