cryptonews.net
Ethena has announced a partnership that will allow users to deposit $USDe on Ether.fi in exchange for a new liquid restaking token, or LRT. The new LRT, called eUSDe, will also provide a dollar-pegged asset for EigenLayer restakes, according to the announcement. As the first-ever dollar-pegged collateral used in EigenLayer, the eUSDe LRT will provide a unique opportunity for restakers across multiple systems and protocols to use less volatile collateral for their restake activities.
Ether.fi has over $5.7 billion in TVL, according to data from crypto data platform DeFi Llama. As part of the Ethena and Eigenlayer integration, Ether.fi’s $USDe vault will allow users to deposit several different stablecoins in exchange for a new eUSDe LRT, which will be used to secure other systems and protocols as part of a generalized restaking
Ethena uses a derivatives trading strategy to maintain the stability of its $USDe synthetic dollar, taking short positions in $ETH or $ETH-linked derivatives to offset losses in $ETH collateral. Last month, Ethena Labs announced a new integration that allows users to buy and sell its $USDe stablecoin on Solana.
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