Known as a synthetic stablecoin, USDe differs from other tokens in that it is not backed 1:1 by fiat assets. Instead, it maintains its peg by collateralizing stablecoins and taking futures positions with large open interest
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USDe Stablecoin Developer Ethena Raises $100M: Bloomberg
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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
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