Ethena Labs 透過比特幣支持強化 USDe 穩定幣，促進擴張和穩定性

Ethena Labs 推出比特幣作為其 USDe 合成美元的支援資產，在世界上最古老的加密貨幣的復興中為交易者帶來了更高的可擴展性和安全性。在此之前，比特幣衍生性商品市場激增了 150%，超越了基於以太坊的衍生性商品市場。憑藉比特幣卓越的流動性和對沖久期特徵，Ethena USDe 現在可以將其縮放因子擴大超過 2.5，同時增強用戶的安全性。

Ethena Labs Bolsters USDe Stablecoin with Bitcoin Backing, Driving Growth and Stability

Ethena Labs 以比特幣支持 USDe 穩定幣，推動成長和穩定性

Ethena Labs, a prominent player in the decentralized finance (DeFi) landscape, has made a strategic move by introducing Bitcoin (BTC) as a backing asset for its USDe synthetic dollar stablecoin. This decision is driven by the growing popularity of Bitcoin among traders and its superior liquidity and risk management capabilities.

Ethena Labs 是去中心化金融 (DeFi) 領域的知名參與者，該公司採取了一項戰略舉措，引入比特幣 (BTC) 作為其 USDe 合成美元穩定幣的支持資產。這項決定是由於比特幣在交易者中日益普及及其卓越的流動性和風險管理能力所推動的。

Ethena Labs announced this significant development in a series of posts on X, emphasizing the role of Bitcoin in enhancing USDe's scalability and safety. By incorporating Bitcoin as a backing asset, USDe can expand its scaling capacity by more than 2.5 times, enabling it to accommodate a larger user base and facilitate increased trading activity.

Ethena Labs 在 X 上的一系列帖子中宣布了這一重大進展，強調了比特幣在增強 USDe 的可擴展性和安全性方面的作用。透過將比特幣作為支援資產，USDe 可以將其擴展能力擴大 2.5 倍以上，使其能夠容納更大的用戶群並促進增加的交易活動。

"As Ethena scales closer towards $10 billion, this provides a more robust backing, and ultimately a safer product for users," stated the protocol on Thursday. USDe's current supply stands at approximately $2 billion, highlighting the growing demand for the stablecoin.

該協議週四表示：“隨著 Ethena 的規模接近 100 億美元，這將提供更強有力的支持，並最終為用戶提供更安全的產品。” USDe 目前的供應量約為 20 億美元，凸顯了對該穩定幣不斷增長的需求。

Ethena Labs cited Bitcoin's superior liquidity and duration profile for delta hedging as key factors in its decision. Delta hedging is a risk management strategy employed by traders to mitigate price fluctuations in underlying assets. Bitcoin's favorable characteristics in these areas make it an ideal choice for backing USDe, enhancing its stability and reducing potential risks for traders.

Ethena Labs 指出，比特幣卓越的流動性和 Delta 對沖久期特徵是其做出決定的關鍵因素。 Delta 對沖是交易者採用的風險管理策略，旨在減輕標的資產的價格波動。比特幣在這些方面的有利特性使其成為支持 USDe、增強其穩定性並降低交易者潛在風險的理想選擇。

Previously, USDe was solely backed by Ether liquid staking tokens. However, the surge in trading interest in Bitcoin has prompted Ethena Labs to diversify its backing assets. Data from the protocol indicates that Bitcoin open interest has skyrocketed by 150% to $25 billion in the past year. This surge has significantly boosted USDe's scaling capacity, allowing it to meet the growing demand.

此前，USDe 僅由以太坊流動質押代幣支持。然而，比特幣交易興趣的激增促使 Ethena Labs 實現其支持資產的多元化。該協議的數據顯示，比特幣未平倉合約在過去一年中飆升了 150%，達到 250 億美元。這種激增極大地提高了 USDe 的擴展能力，使其能夠滿足不斷增長的需求。

In contrast, Ether's open interest has only increased by 100% to $10 billion during the same period. This disparity in growth reflects the shifting preferences of traders, who are increasingly embracing Bitcoin as a safe-haven asset and a store of value.

相比之下，同期以太幣的未平倉合約僅增加了 100%，達到 100 億美元。這種成長差異反映了交易者偏好的轉變，他們越來越多地將比特幣視為避險資產和價值儲存手段。

The incorporation of Bitcoin into USDe's backing assets aligns with the broader market trend of Bitcoin outperforming Ether in terms of derivative activity. Bitcoin derivative markets have outpaced their Ether-based counterparts, signaling a growing appetite for Bitcoin among institutional and retail investors alike.

將比特幣納入 USDe 的支援資產符合比特幣在衍生性商品活動方面優於以太幣的更廣泛市場趨勢。比特幣衍生性商品市場已經超過了基於以太坊的衍生性商品市場，這表明機構和散戶投資者對比特幣的興趣不斷增長。

As of the time of writing, Bitcoin is trading at $68,384, a 4% increase over the past 24 hours. Its strong performance and growing popularity have made it an attractive choice for Ethena Labs to enhance the stability and scalability of its synthetic dollar stablecoin.

截至撰寫本文時，比特幣交易價格為 68,384 美元，在過去 24 小時內上漲了 4%。其強勁的性能和日益普及使其成為 Ethena Labs 增強其合成美元穩定幣的穩定性和可擴展性的有吸引力的選擇。

In conclusion, Ethena Labs' decision to back USDe with Bitcoin is a testament to the growing importance of Bitcoin in the DeFi ecosystem. By leveraging Bitcoin's superior liquidity, duration profile, and risk management capabilities, USDe is positioned for continued growth and stability, providing users with a more secure and scalable tool for trading and investing in the digital asset market.

總而言之，Ethena Labs 決定用比特幣支援 USDe 證明了比特幣在 DeFi 生態系統中日益增長的重要性。透過利用比特幣卓越的流動性、久期特徵和風險管理能力，USDe 能夠實現持續成長和穩定，為用戶提供更安全和可擴展的數位資產市場交易和投資工具。