Ethena的USDE/SUSDE：錨定Defi生態系統及以後

Ethena Labs的USDE和SUSDE在Defi中引起了轟動，在整個網絡之間迅速擴展並吸引了機構的興趣。這是低點。

Ethena Labs is shaking up the DeFi landscape with its synthetic dollar USDe and its staked version, sUSDe. These assets are quickly becoming foundational elements across various layer 1 solutions, attracting significant investment and creating new opportunities for yield generation. Let's dive into what's happening.

Ethena Labs正在使用其合成美元USDE及其固定版本Susde搖晃Defi景觀。這些資產迅速成為各種第1層解決方案的基本要素，吸引了大量投資並創造了新的產生機會。讓我們深入了解正在發生的事情。

Ethena Lands on Plasma: A DeFi Power Move

埃塞納（Ethena

Ethena's USDe and sUSDe launched on Plasma's mainnet beta, instantly becoming core assets in its DeFi ecosystem. This launch on September 25 included integrations with major platforms like Aave, Curve, Balancer, and Fluid. Aave even introduced Liquid Leverage markets with substantial USDe and sUSDe deposit capacities, enhanced by USDT liquidity from Binance Earn. This rapid integration highlights the demand and utility of Ethena's offerings.

Ethena的USDE和SUSDE在等離子體的Mainnet beta上啟動，立即成為其Defi生態系統中的核心資產。 9月25日的發布包括與AAVE，曲線，平衡器和流體等主要平台的集成。 AAVE甚至引入了具有大量USD和SUSDE存款能力的液體槓桿市場，並獲得了USDT流動性的增強。這種快速的整合凸顯了埃塞納產品產品的需求和效用。

Cross-Chain Expansion and Institutional Interest

跨鏈擴展和機構利益

Ethena isn't stopping at Plasma. They've been aggressively expanding across multiple networks, including Avalanche and the Optimism Superchain. Moreover, M2 Capital's $20 million investment showcases the growing institutional interest in regulated DeFi exposure, particularly from the Middle East. These firms are looking to integrate synthetic dollar products into wealth management offerings, creating compliant onramps for high-net-worth clients.

乙烯沒有停止等離子體。他們一直在跨多個網絡進行積極擴展，包括雪崩和樂觀的超級鏈。此外，M2 Capital的2000萬美元投資展示了在受監管的Defi暴露量中日益增長的機構興趣，尤其是來自中東。這些公司正在尋求將合成美元產品集成到財富管理產品中，為高淨值客戶創建合規的Onramps。

The Numbers Don't Lie: Revenue and Yield

數字不撒謊：收入和收益

Ethena's platform data reveals impressive figures: $666.82 million in fees and $32.32 million in revenue and earnings over the past year. sUSDe currently offers a competitive 6% annual percentage yield, making it an attractive option compared to traditional savings accounts. While yields peaked at 19% earlier in 2024, the current rate still demonstrates the potential for generating returns within the DeFi space.

Ethena的平台數據顯示出令人印象深刻的數據：過去一年的收入和收入為6.6682億美元，收入和收入為3232萬美元。 Susde目前提供有競爭力的年度百分比6％，與傳統儲蓄帳戶相比，它是一個有吸引力的選擇。雖然收益率在2024年前早些時候達到19％的峰值，但目前的速率仍然表明了在Defi空間內產生回報的潛力。

A Crypto-Native Approach to Stability

加密本地的穩定方法

Ethena's approach is unique: they combine crypto-backed collateral with delta-neutral hedging strategies to maintain USDe's dollar parity without relying on traditional banking relationships. This resonates with institutions seeking independence from legacy financial infrastructure and mitigates counterparty risks associated with fiat-backed stablecoins.

Ethena的方法是獨一無二的：它們將加密貨幣支持的抵押品與三角洲中立的對沖策略相結合，以維持USDE的美元均等而不依賴傳統的銀行關係。這引起了尋求獨立遠離傳統金融基礎設施的機構的共鳴，並減輕與菲亞特支持的穩定穩定的對手風險。

Flare's FXRP: Expanding the DeFi Reach

Flare的FXRP：擴展Defi覆蓋範圍

While not directly Ethena related, Flare's launch of FXRP, the ERC-20 version of Ripple (XRP), highlights a similar trend: bringing more assets into the DeFi fold. FXRP allows users to lock in XRP and mint FXRP, opening up decentralized finance opportunities for XRP holders. This underscores the broader movement towards greater asset integration within DeFi.

雖然Ethena不直接與Ethena相關，但Flare推出了ERC-20版Ripple（XRP）的FXRP，但突出了類似的趨勢：將更多的資產帶入Defi Fold。 FXRP允許用戶鎖定XRP和MINT FXRP，為XRP持有人打開了分散的財務機會。這強調了在Defi內進行更廣泛的資產整合的更廣泛的運動。

My Take: Ethena is Here to Stay

我的看法：埃塞娜（Ethena）在這裡留下來

Ethena's rapid growth and strategic partnerships suggest that they're not just a flash in the pan. Their innovative approach to stablecoins and their focus on institutional adoption position them as a key player in the evolving DeFi landscape. The impressive revenue numbers and the competitive yields offered by sUSDe further solidify their position. Of course, as with any DeFi project, risks exist, but Ethena's strong backing and proven model make them a compelling contender.

Ethena的快速增長和戰略夥伴關係表明，它們不僅僅是鍋中的閃光。他們對穩定幣的創新方法以及對機構收養的關注，將他們定位為不斷發展的Defi景觀的關鍵參與者。 Susde提供的令人印象深刻的收入數量和競爭收益率進一步鞏固了他們的地位。當然，與任何Defi項目一樣，存在風險，但是Ethena的強烈支持和驗證的模型使其成為令人信服的競爭者。

So, keep an eye on Ethena. They're not just building a product; they're shaping the future of finance. And honestly, who wouldn't want a piece of that pie?

因此，請密切關注Ethena。他們不只是製造產品；他們正在塑造財務的未來。老實說，誰不想那個餡餅？