USDe, the synthetic dollar offered by Ethena Labs, has successfully passed its first market ‘stress test’ by maintaining full collateralization, according to the asset’s attestation report. Despite significant volatility in the crypto market, USDe remained fully backed by assets such as Bitcoin, Ethereum, liquid-staked Ethereum, and Tether’s USDT stablecoin, with an excess reserve of $32.7 million. The report also highlighted that the assets supporting USDe were securely stored off-exchange by institutional-grade custodial solutions. The protocol plans to provide monthly updates to enhance transparency. However, there are dissenting opinions suggesting that USDe may face increased risk during significant market declines due to the inherent volatility of the crypto market.
Latest
USDe maintains full collateralization amid first market ‘stress test’
