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

Quotes that support claims

When crypto markets are booming and funding rates — the interest paid by bullish traders to take on leverage for futures bets — are high, the mechanism Ethena relies on can translate into sky-high yields

Layered on top of that is more complex financial engineering intended to generate yield for holders, something USDe’s biggest competitors don’t do