Ethena 的 USDe 合成美元由價值 5.37 億美元的比特幣巨額資金擔保

Ethena 以比特幣為抵押的 USDe 合成美元在推出一周內就突破了 5 億美元。這項重要儲備約佔總資產的 26%，歸因於 Ethena 對即將到來的比特幣減半事件的預期。儘管存在傳染風險，USDe 的採用率仍在激增，市值達到 21.4 億美元，並吸引了 MakerDAO 和 Frax Finance 等主要 DeFi 項目的支持。

Ethena's USDe Synthetic Dollar Secured by Half a Billion Dollars in Bitcoin

Ethena 的 USDe 合成美元由 5 億美元的比特幣擔保

In a remarkable display of confidence and preparation for the upcoming Bitcoin halving, the synthetic dollar protocol Ethena has amassed a staggering $537 million in Bitcoin reserves, constituting a substantial 26% of its total asset reserve. This move underscores Ethena's commitment to enhancing the safety and stability of its USDe product ahead of the significant Bitcoin block reward reduction.

合成美元協議 Ethena 已累積了驚人的 5.37 億美元比特幣儲備，佔其總資產儲備的 26%，這對即將到來的比特幣減半表現出了極大的信心和準備。此舉凸顯了 Ethena 在比特幣區塊獎勵大幅減少之前增強其 USDe 產品安全性和穩定性的承諾。

The halving event, anticipated to occur around April 20, will witness a 50% decrease in Bitcoin's block reward, dropping from 6.25 BTC to 3.125 BTC per block. This impending reduction has sparked concerns within the crypto community, with some experts speculating that it could trigger volatility in the Bitcoin market.

減半事件預計將於 4 月 20 日左右發生，比特幣的區塊獎勵將減少 50%，從每個區塊 6.25 BTC 降至 3.125 BTC。即將到來的減少引發了加密貨幣社群的擔憂，一些專家猜測這可能會引發比特幣市場的波動。

Seraphim Czecker, Ethena's head of growth, views the substantial Bitcoin reserve as a strategic measure to mitigate potential risks associated with the halving. By holding a significant amount of Bitcoin as collateral, Ethena aims to bolster the stability of USDe and instill confidence in its users.

Ethena 的成長主管 Seraphim Czecker 將大量的比特幣儲備視為減輕與減半相關的潛在風險的策略措施。透過持有大量比特幣作為抵押品，Ethena 旨在增強 USDe 的穩定性並為其用戶灌輸信心。

The rise of Ethena's Bitcoin collateral has coincided with a surge in the adoption of USDe. According to CryptoSlate data, USDe's market capitalization has skyrocketed to $2.14 billion, accompanied by a daily trading volume of $364 million. This impressive growth has been fueled by the integration of USDe into prominent DeFi projects such as MakerDAO and Frax Finance.

Ethena 的比特幣抵押品的崛起與 USDe 的採用激增同時發生。根據 CryptoSlate 數據，USDe 的市值已飆升至 21.4 億美元，每日交易量為 3.64 億美元。這一令人印象深刻的成長得益於 USDe 與 MakerDAO 和 Frax Finance 等著名 DeFi 專案的整合。

Frax Finance has recently approved a $250 million liquidity pool to facilitate automated market operations (AMO) for minting new FRAX tokens. This move indicates Frax's trust in USDe's stability and its potential to serve as a reliable source of backing yield.

Frax Finance 最近批准了 2.5 億美元的流動性池，以促進自動化市場操作（AMO），以鑄造新的 FRAX 代幣。此舉顯示 Frax 對 USDe 的穩定性及其作為可靠收益來源的潛力的信任。

Additionally, lending protocol Morpho Labs has announced that MakerDAO, the issuer of the DAI stablecoin, has allocated an extra $100 million in DAI tokens to its USDe/DAI and sUSDe/DAI markets on Morpho Blue. This allocation follows Maker's successful proposal to increase Spark's MetaMorpho Vault DDM Maximum Debt Ceiling from $100 million to $1 billion DAI.

此外，借貸協議 Morpho Labs 宣布，DAI 穩定幣的發行者 MakerDAO 已向 Morpho Blue 上的 USDe/DAI 和 sUSDe/DAI 市場額外分配 1 億美元的 DAI 代幣。此次分配是在 Maker 成功提議將 Spark 的 MetaMorpho Vault DDM 最大債務上限從 1 億美元提高到 10 億美元 DAI 之後進行的。

These developments highlight the growing acceptance and adoption of Ethena's USDe within the DeFi ecosystem. By harnessing the stability of Bitcoin and integrating with prominent projects, Ethena aims to establish USDe as a stable and reliable synthetic dollar for a burgeoning DeFi market.

這些發展凸顯了 Ethena 的 USDe 在 DeFi 生態系統中越來越被接受和採用。透過利用比特幣的穩定性並與知名專案整合，Ethena 旨在將 USDe 打造成新興 DeFi 市場穩定可靠的合成美元。

While Ethena's efforts to create a safer product for its users are commendable, some market experts have raised concerns about the potential contagion risk posed by the use of Bitcoin as collateral. They argue that should Bitcoin experience a significant price decline, it could have a negative impact on USDe and the broader crypto market.

儘管 Ethena 為其用戶創造更安全產品的努力值得讚揚，但一些市場專家對使用比特幣作為抵押品帶來的潛在傳染風險表示擔憂。他們認為，如果比特幣價格大幅下跌，可能會對 USDe 和更廣泛的加密市場產生負面影響。

However, Ethena maintains that it has implemented robust risk management strategies and meticulously monitors market conditions to safeguard the integrity of USDe. The platform's substantial Bitcoin reserves serve as a buffer against price fluctuations, providing confidence to users and mitigating concerns over contagion risk.

然而，Ethena 堅稱，它已實施穩健的風險管理策略並仔細監控市場狀況，以維護 USDe 的完整性。該平台大量的比特幣儲備可以作為價格波動的緩衝，為用戶提供信心並減輕對傳染風險的擔憂。

As the Bitcoin halving event approaches, Ethena's strategic accumulation of Bitcoin collateral demonstrates its commitment to ensuring the stability of its USDe product. By harnessing the strength of Bitcoin and collaborating with leading DeFi projects, Ethena is well-positioned to navigate the upcoming halving and continue its mission of fostering a safer and more accessible DeFi ecosystem.

隨著比特幣減半事件的臨近，Ethena 對比特幣抵押品的戰略積累表明了其致力於確保其 USDe 產品穩定性的承諾。透過利用比特幣的優勢並與領先的 DeFi 專案合作，Ethena 已準備好應對即將到來的減半，並繼續履行培育更安全、更容易存取的 DeFi 生態系統的使命。