Ethena Labs founder: Adequate precautions have been taken to avoid potential risks of using USDe as collateral for trading derivatives

Ethena has launched a new feature that allows traders to use their USDe as collateral when trading derivatives, while noting that there are potential risks in allowing traders to make more derivatives bets using assets that are partially backed by derivatives. "We have taken this risk into account, which is why Ethena operates on more than five different platforms," ​​explained Conor Ryder, head of research at Ethena Labs. Ethena Labs founder Guy Young said the company and its partners have taken adequate precautions. Among the five exchanges that Ethena is working with, Ethena will disperse short bets supporting USDe, with 48% on Binance, 23% on ByBit, 20% on OKX, 5% on Deribit, and 1% on Bitget. With this move, Ethena aims to minimize the impact of unforeseen events on one of the exchanges. The same theory applies to spreading risk across different supporting assets: 50% of USDe is backed by Bitcoin, 30% by Ethereum, 11% by Ethereum liquidity pledge tokens, and 8% by USDT. (DL News) Earlier, Ethena officially posted on the X platform that it will jointly introduce USDe as a stable margin collateral with @Bybit_Official. Related rewards: Starting from August 2, all Bybit users only need to hold USDe in their Bybit accounts or use USDe collateral to trade derivatives to receive a daily annual interest rate of up to 20%.