New Reward-Bearing Synthetic Dollar Launches on Bybit

Ethena Labs is set to introduce USDe, a new type of collateral that not only serves as stable margin but also earns rewards, on the Bybit exchange starting August 2.

This innovative feature is expected to change how traders manage their collateral by offering daily reward payouts.

With USDe, Bybit users can earn up to 20% APR on their holdings, whether they are simply holding the stablecoin or using it as collateral for trading.

This new offering could significantly alter trading practices by allowing traders to potentially offset their costs with the rewards from their collateral. Given that over $30 billion is currently used as USD collateral for margining without additional benefits, this development could improve capital efficiency in the trading space.

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Additionally, USDe transactions will be fee-free on the USDe/USDT and USDe/USDC pairs. The integration aims to establish USDe as a major player in the stablecoin market, providing a new tool designed specifically for crypto traders.

Since launching USDe and its initial Shard Campaigns, Ethena Labs has seen its TVL grow rapidly, reaching $2.11 billion in just 57 days. The further integration of USDe into Bybit’s trading options has led to an additional $1.3 billion in TVL, demonstrating significant momentum and impact within the decentralized finance sector.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.