Ethena Labs Launches USDe on Bybit: Earn Up to 20% APR Daily with No Minimum Holding

  • Ethena Labs has launched the USDe token on the Bybit exchange, offering traders a unique opportunity to earn up to 20% Annual Percentage Rate (APR) on their holdings.
  • The daily distribution of rewards ensures users can leverage their holdings without any minimum requirement, potentially offsetting funding costs.
  • The platform’s growth is also evident with its Total Value Locked (TVL) surpassing $3.6 billion, marking a significant footprint in the decentralized finance ecosystem.

Discover how Ethena Labs is revolutionizing collateral management with USDe on Bybit, enhancing capital efficiency and offering up to 20% APR rewards daily.

Ethena Labs Unveils USDe on Bybit with Up to 20% APR

Ethena Labs has announced the launch of USDe, a groundbreaking reward-bearing stable margin collateral, on the Bybit exchange. This innovation sets a new standard for how traders can manage their collateral while simultaneously earning significant rewards. Bybit users can now earn up to 20% Annual Percentage Rate (APR) on USDe holdings, with rewards being distributed daily.

A New Era for Capital Efficiency

Unlike traditional collaterals, USDe allows traders to earn rewards while using it as margin collateral for derivatives trading. This integrated approach can significantly improve capital efficiency by enabling users to potentially offset their funding costs. Ethena Labs aims to challenge existing paradigms, especially considering that over $30 billion of USD collateral on exchanges is typically used without generating additional value.

Seamless Reward Distribution Model

Bybit’s reward distribution model ensures that users receive their earnings daily at 6 AM UTC directly into their Funding accounts, with no minimum holding requirement. Additionally, the zero-fee transactions for USDe across both USDe/USDT and USDe/USDC pairs provide traders with a flexible and cost-effective way to manage their assets.

Ethena Labs’ Impressive Growth and Market Position

The launch of USDe has been a major milestone for Ethena Labs, contributing to its rapid growth in the decentralized finance sector. Following the successful implementation and initial promotional campaigns, the Total Value Locked (TVL) in Ethena Labs has exceeded $3.6 billion. This significant increase in TVL, from an impressive $2.11 billion just 57 days after their mainnet launch, underscores Ethena Labs’ growing influence and credibility in the Defi landscape.

Strategies Behind the Growth

Ethena Labs’ strategic integration of USDe into the Bybit platform, enabling it as a collateral asset for trading perpetual futures and zero-fee spot pairs for major cryptocurrencies like BTC and ETH, has played a pivotal role in driving this growth. These initiatives have showcased the practical benefits and efficiencies of using USDe, appealing to a broad range of crypto traders and investors.

Conclusion

In summary, Ethena Labs’ launch of USDe on Bybit signifies a transformative step in collateral management and trader rewards. With up to 20% APR and daily reward distributions, traders can now effectively maximize their capital while trading. Ethena Labs’ impressive TVL growth and strategic market positioning indicate a promising future for their platform, making them a significant player in the decentralized finance sector.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Binance Wallet Launches MilkyWay TGE Event: Join the Subscription with 75 Alpha Points

COINOTAG News reports that Binance Wallet has officially initiated...

1inch Launches on Solana: Revolutionizing Cross-Chain Trading with Advanced Fusion Protocol and Developer APIs

In a significant development for the cryptocurrency landscape, 1inch...

Cumberland Withdraws $21 Million in ETH from Coinbase: Key Insights from BlockBeats April 29 Update

In a recent update from COINOTAG on April 29th,...

Gate Group Secures VASP License in Dubai, Solidifying Compliance in the Cryptocurrency Sector

The cryptocurrency sector continues to evolve, with recent developments...

Upbit to Launch SIGN Trading Pairs Against KRW, BTC, and USDT: What You Need to Know

COINOTAG News reports that Upbit, a prominent South Korean...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img