Ethena Labs 添加比特幣作為 USDe 的抵押品，增強可擴展性

Ethena Labs 策略性地添加比特幣作為其合成美元 USDe 的抵押品，旨在增強可擴展性。隨著 USDe 的快速成長和該專案廣泛的空頭期貨頭寸，此舉利用了 BTC 的流動性和擴容潛力，有可能使 USDe 增加 250%。此次整合預計將增強 USDe 的穩定性，並在第二天開始反映在 Ethena 的儀表板中。

Ethena Labs Adds Bitcoin as Collateral for USDe, Paving the Way for Enhanced Scalability

Ethena Labs 添加比特幣作為 USDe 的抵押品，為增強可擴展性鋪平道路

In a strategic move aimed at significantly enhancing the scalability of its synthetic dollar, USDe, Ethena Labs has added Bitcoin (BTC) as a collateral asset.

Ethena Labs 採取了一項旨在顯著增強其合成美元 USDe 可擴展性的戰略舉措，並添加了比特幣 (BTC) 作為抵押資產。

USDe has witnessed remarkable growth since the launch of its airdrop campaign earlier this year, with its total value locked (TVL) rapidly approaching $2 billion. Consequently, Ethena's short futures positions, utilized to hedge the protocol's ETH exposure, have surged to 20% of total Ether open interest.

自今年稍早推出空投活動以來，USDe 出現了顯著成長，其鎖定總價值 (TVL) 迅速接近 20 億美元。因此，Ethena 用於對沖協議 ETH 風險的期貨空頭部位已飆升至 ETH 未平倉合約總額的 20%。

Recognizing the substantial liquidity and increased scaling potential offered by BTC derivative markets, Ethena anticipates that this move will empower it to scale USDe by an impressive 250%. The project's recently introduced ENA token currently trades around $1, resulting in a market capitalization of $1.5 billion.

Ethena 認識到 BTC 衍生性商品市場提供的大量流動性和增加的擴容潛力，預計此舉將使其能夠將 USDe 的擴容規模擴大到令人印象深刻的 250%。該項目最近推出的 ENA 代幣目前交易價格約為 1 美元，市值達到 15 億美元。

Ethena's team acknowledges that while BTC lacks the native staking yield of ETH, its superior liquidity and duration profile more than compensate for this deficiency. Notably, in bullish market conditions where funding rates surpass 30%, staking yields diminish in significance.

Ethena 的團隊承認，雖然 BTC 缺乏 ETH 的原生質押收益率，但其卓越的流動性和久期特徵足以彌補這一缺陷。值得注意的是，在資金利率超過 30% 的多頭市場條件下，質押殖利率的重要性就會減弱。

By incorporating BTC as a backing asset, Ethena aims to bolster the scalability and overall stability of USDe. The integration of BTC will be reflected in Ethena's dashboards effective tomorrow.

透過將 BTC 作為支援資產，Ethena 旨在增強 USDe 的可擴展性和整體穩定性。 BTC 的整合將反映在明天生效的 Ethena 儀表板中。

This strategic move demonstrates Ethena's commitment to innovation and its unwavering pursuit of scalability. By leveraging the liquidity and stability of BTC, the project expects to unlock unprecedented growth opportunities for USDe and its users.

這項策略舉措體現了 Ethena 對創新的承諾以及對可擴展性的堅定追求。透過利用 BTC 的流動性和穩定性，該計畫預計將為 USDe 及其用戶帶來前所未有的成長機會。

Ethena's addition of BTC as collateral for USDe is a testament to the project's forward-thinking approach and its dedication to providing a robust and versatile synthetic dollar ecosystem. As the crypto market continues to evolve, Ethena remains at the forefront of innovation, persistently seeking ways to enhance the accessibility, utility, and scalability of decentralized finance.

Ethena 添加 BTC 作為 USDe 的抵押品，證明了該項目的前瞻性思維方法及其致力於提供強大且多功能的合成美元生態系統。隨著加密貨幣市場的不斷發展，Ethena 始終走在創新的前沿，不斷尋求增強去中心化金融的可近性、實用性和可擴展性的方法。