Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch. This expands the addressable market of underlying collateral from $2.5 trillion of crypto to $150 trillion+ of real-world assets. As part of the partnership, bStocks will serve as tokenized spot collateral, hedged with Binance USDT-denominated equity perpetuals - the same delta-neutral structure Ethena has securely executed across crypto assets since inception. Importantly, Binance provides lower ADL priority for eligible delta-neutral accounts including Ethena's, adding another layer of risk mitigati…
> create great onchain product with crypto native assets > product works just as well (perhaps better?) with a broader set of assets > expand and make product better + increase tam by adding traditional assets to mix ---------- all the best projects from last cycle are getting *better* by extending their core products to more assets this cycle: > hyperliquid adding commodities, equities, pre-ipo stocks, etc > ethena extending basis trade to equity perps > pump adding tokenized stock pairs ---------- extremely bullish
24.4K views · 111 engagement
