2025-8-22 00:00 |
Ethena Labs, creator of USDe a.k.a the synthetic dollar, has announced record-breaking numbers, crossing the $500 million revenue in gross interest. This achievement, announced through the official channels on August 21, 2025, marks an incredible growth session for the token creator. In addition, the platform also revealed an immense increase in the supply of its currency USDe, reaching the all-time high of $11.7 billion. These numbers are a proof that the stablecoin creator has established itself as a strong force in the Decentralized Finance (DeFi) world.
A Week of Record-Breaking GrowthThe announcement of half a billion dollars revenue is a result of an ongoing positive momentum in the market, which peaked in the last week. Over the past 7 days alone, the protocol was able to collect a revenue of $13.4 million. This massive turnover over a short time was a result of a high capital influx, most of which came from the minting of USDe worth $670 million.
The minting was, again, a result of a high demand for the stablecoin in the crypto market. The recent growth spike in Ethena’s innovative projects is strong indicator of market confidence and buyers’ trust in the protocol’s future.
What’s Driving Force Behind the USDeEthena’s protocol is innovative from its architecture to market operations. Unlike the conventional stablecoins that are stabilized by an equivalent fiat currency in a mainstream bank, USDe maintains its dollar-stability through a complex strategy named “delta neutral hedging.” According to this strategy, the protocol accepts liquid staking coins as collateral and opens a short perpetual futures position of the equal amount for the asset. This method mitigates the volatile nature of the collateral price.
The protocol has two primary revenue sources. First one is the stacking rewards of the crypto assets it holds and the second one is from the funding rates paid by the traders to maintain short positions. This unique revenue generation model allows Ethena to further offer high yields. This is the reason why USDe is offen termed as the “internet bond” because it’s crypto-native architecture and a revenue model that is independent of conventional banking.
Scaling New Heights Amid High RisksEthena’s rise is real and is looked at by traders as well as competitors with admiration. However, this exponential rise has not been without market scrutiny with respect to the risk involved in its operational structure. The protocol relies highly on the consistent, positive rates from perpetual futures markets, which is a high-risk option. This model could be severely impacted by a prolonged period of negative rates.
Ethena understands this situation and has already acted proactively by integrating Bitcoin as a backing asset. Integrating BTC as an asset has diversified its capacity to liquidate its assets without any problems whenever required. Such strategic integrations empower Ethena to stabilize its protocol and provide a sustainable ecosystem for its users in the long term.
Ethena has crossed $500 million revenue threshold, proving a strong validation of its unique business model. The platform also announced a record-breaking supply of USDe that crossed $11.7 billion mark. Marked with the high-risk revenue generation model, Ethena has worked proactively to integrate Bitcoin as a backing asset, ensuring instant, high liquidity whenever required and broadening its capacity to scale.
origin »Supply Shock (M1) на Currencies.ru
|
