Ethena introduces a revolutionary synthetic dollar system on the
Ethereum blockchain, offering a decentralized alternative to the conventional financial framework. This platform presents the ‘Internet Bond,’ a universally accessible, dollar-based financial tool.
The platform’s native currency, USDe, stands as the premier decentralized, stable, and scalable monetary solution, underpinned by delta-neutral Ethereum collateral. The USDe’s solidity is fully verifiable on the blockchain, ensuring its seamless integration within the DeFi ecosystem.
The stability of the USDe’s value is meticulously maintained by delta hedging strategies against the collateral held by the protocol, complemented by an efficient minting and redemption arbitrage process.
Moreover, the ‘Internet Bond’ ingeniously merges returns from Ethereum staking with the differential from perpetual and futures markets. This fusion births the inaugural on-chain, crypto-native ‘bond,’ serving as a dollar-indexed savings vehicle for participants in approved regions.
