Ethena's Synthetic Dollar Token Written by Brett Hemenway Falk To understand Ethena's USDe, it is useful to consider it in relation to other stablecoins. Fiat-backed stablecoins like USDT or USDC are backed by dollar-denominated assets (e.g. short-term treasuries) held off-chain by their issuer (Tether or Circle). Since USDT and USDC…Read More Ethena’s Synthetic Dollar Token
Ethena's Synthetic Dollar Token Written by Brett Hemenway Falk To understand Ethena's USDe, it is useful to consider it in relation to other stablecoins. Fiat-backed stablecoins like USDT or USDC are backed by dollar-denominated assets (e.g. short-term treasuries) held off-chain by their issuer (Tether or Circle). Since USDT and USDC…Read More