Odaily News Guy Young, founder of Ethena, posted on the X platform that many people think that Ethena and Tether are competitors, but on the contrary, their respective growth will directly promote each other. In this market where about 70% of perpetual contracts are denominated in USDT, every additional short position of Ethena will create new demand for USDT, because counterparties must use USDT as collateral to establish long positions. This mechanism means that every time USDDe supported by perpetual contracts is issued by $1, it will drive an increase in demand for USDT by about $0.7. Young pointed out that Tether does not need to launch its own income products at all, because traders are already using USDT as collateral and paying an annualized interest rate of 10%-30% to go long perpetual contracts.