The USDe token, which is referred to as a “synthetic dollar,” offers yields to investors by pairing ether liquid staking tokens with short ether (ETH) perpetual futures position in the derivatives market to maintain a “rough target” of $1 price.

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• Source: https://www.coindesk.com/markets/2024/04/02/ethena-labs-ena-token-goes-live-start-trading-at-64-cents/?utm_medium=referral&utm_source=rss&utm_campaign=headlines