Ethena Labs 首次推出由貝萊德美元機構數位流動性基金支持的 USDtb 穩定幣

USDtb 的運作方式與其他流行的法幣支持的穩定幣（例如 USD Coin (USDC) 和 Tether (USDT)）類似，其儲備金以 1:1 的比例以現金或現金等價資產形式持有。

Cryptocurrency firm Ethena Labs has launched a new stablecoin, USDtb, backed by BlackRock’s USD Institutional Digital Liquidity Fund.

加密貨幣公司 Ethena Labs 推出了一種新的穩定幣 USDtb，由貝萊德美元機構數位流動性基金支持。

The stablecoin is designed to be pegged 1:1 to the U.S. dollar, with reserves fully backed by cash or cash-equivalent assets. Specifically, 90% of USDtb's reserves will be allocated to the BUIDL fund, which tokenizes the iShares Core Total U.S. Bond Market ETF (在场交易基金). The fund primarily invests in short-term U.S. Treasury bills, cash, and repurchase agreements.

該穩定幣設計為與美元 1:1 掛鉤，儲備完全由現金或現金等價資產支持。具體來說，USDtb 90%的準備金將分配給BUIDL基金，該基金將iShares Core Total US Bond Market ETF（在場交易基金）代幣化。該基金主要投資於短期美國公債、現金和回購協議。

According to Ethena, this marks the highest BUIDL allocation among stablecoins, enabling greater scalability and a high degree of stability. The stablecoin is being launched in partnership with Securitize, a leading platform for tokenizing real-world assets.

據 Ethena 稱，這標誌著穩定幣中 BUIDL 分配最高，從而實現了更大的可擴展性和高度的穩定性。該穩定幣是與 Securitize 合作推出的，Securitize 是一個領先的現實世界資產代幣化平台。

USDtb is positioned as a more traditional stablecoin option, distinct from Ethena’s flagship token, USDe, which utilizes a derivative-based strategy to maintain its peg to the U.S. dollar.

USDtb 定位為更傳統的穩定幣選擇，與 Ethena 的旗艦代幣 USDe 不同，USDe 利用基於衍生品的策略來維持與美元掛鉤。

Ethena's Ecosystem

Ethena 的生態系統

The introduction of USDtb aligns with Ethena’s strategy to enhance the resilience of its ecosystem, especially in volatile market conditions. While USDe generates yield by shorting assets like Bitcoin, Ether, and Solana, it is susceptible to underperformance during market downturns and negative funding rates.

USDtb 的推出符合 Ethena 增強生態系統彈性的策略，特別是在波動的市場條件下。雖然 USDe 透過做空比特幣、以太幣和 Solana 等資產來產生收益，但在市場低迷和負融資利率期間，它很容易表現不佳。

To mitigate these risks, Ethena's Risk Committee has approved USDtb as a backup asset for USDe, enabling the platform to adjust reserves as needed. Additionally, USDtb is expected to serve as an alternative collateral option for margin trading on centralized exchanges, expanding its use cases.

為了減輕這些風險，Ethena 風險委員會已批准 USDtb 作為 USDe 的備用資產，使平台能夠根據需要調整儲備。此外，USDtb 預計將作為中心化交易所保證金交易的替代抵押品選擇，擴大其用例。

According to the company, USDtb's reserves are secured by Copper, Zodia Custody, Komainu, and Coinbase Institutional. Ethena has also submitted an application for USDtb to be included in Sky's $1 billion Tokenization Grand Prix, which aims to fund tokenized real-world asset projects.

據該公司稱，USDtb 的儲備由 Copper、Zodia Custody、Komainu 和 Coinbase Implemental 提供擔保。 Ethena 也提交了 USDtb 的申請，希望將其納入 Sky 的 10 億美元代幣化大獎賽，該獎項旨在資助代幣化的現實世界資產項目。

The launch of USDtb follows several successful audits by leading firms, including Pashov, Quantstamp, and Cyfrin, attesting to the token's safety and reliability.

USDtb 的推出是在 Pashov、Quantstamp 和 Cyfrin 等領先公司的多次成功審計之後推出的，證明了該代幣的安全性和可靠性。