News Explorer — Ethena Raises $6M for Dollar-Pegged Stablecoin Launch on Ethereum

By Decrypt July 17, 2023 In 1inch Network, Aave, Ark, Cryptocurrencies, Ethereum, Gnosis

Ethena Raises $6M for Dollar-Pegged Stablecoin Launch on Ethereum

Crypto startup Ethena has raised $6 million in seed funding led by Dragonfly for its new stablecoin, USDe. Unlike previous attempts, USDe maintains its dollar peg by using collateral from users to hedge price exposure through shorting Ethereum using perpetual swaps. Ethena aims to differentiate itself from failed algorithmic stablecoins like Terra and plans to launch its stablecoin and bond asset in the coming months.

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Jul 17, 3:00 am

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Ethena Raises $6M for Dollar-Pegged Stablecoin Launch on Ethereum

Crypto startup Ethena has raised $6 million in seed funding led by Dragonfly for its new stablecoin, USDe. Unlike previo… Read Summary

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Jul 17, 3:57 am

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