Open Interest Surpasses $2.9 Billion, Ethena Adds Tokenized US Stock Assets to USDe Backing Strategy

Odaily News: Ethena has incorporated tokenized US stocks and Binance stock perpetual contracts into its USDe basis trade backing strategy: Binance bStocks serve as tokenized spot backing assets, hedged through Binance stock perpetual contracts to maintain delta neutrality. The Ethena Risk Committee had previously approved the inclusion of tokenized stock basis trades into its allocation strategy. Binance stock perpetual contract open interest currently exceeds $2.9 billion, with a monthly average compound growth rate of 105% this year; over the past 6 months, stock basis trades have averaged an annualized yield of 3.56%.