Ethena Labs 添加比特币作为 USDe 的抵押品，增强可扩展性

Ethena Labs 战略性地添加比特币作为其合成美元 USDe 的抵押品，旨在增强可扩展性。随着 USDe 的快速增长和该项目广泛的空头期货头寸，此举利用了 BTC 的流动性和扩容潜力，有可能使 USDe 增加 250%。此次整合预计将增强 USDe 的稳定性，并在第二天开始反映在 Ethena 的仪表板中。

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

Ethena Labs 添加比特币作为 USDe 的抵押品，为增强可扩展性铺平道路

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 采取了一项旨在显着增强其合成美元 USDe 可扩展性的战略举措，添加了比特币 (BTC) 作为抵押资产。

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.

自今年早些时候推出空投活动以来，USDe 出现了显着增长，其锁定总价值 (TVL) 迅速接近 20 亿美元。因此，Ethena 用于对冲协议 ETH 风险的期货空头头寸已飙升至 ETH 未平仓合约总额的 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 认识到 BTC 衍生品市场提供的大量流动性和增加的扩容潜力，预计此举将使其能够将 USDe 的扩容规模扩大到令人印象深刻的 250%。该项目最近推出的 ENA 代币目前交易价格约为 1 美元，市值达到 15 亿美元。

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 的团队承认，虽然 BTC 缺乏 ETH 的原生质押收益率，但其卓越的流动性和久期特征足以弥补这一缺陷。值得注意的是，在资金利率超过 30% 的牛市市场条件下，质押收益率的重要性就会减弱。

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.

通过将 BTC 作为支持资产，Ethena 旨在增强 USDe 的可扩展性和整体稳定性。 BTC 的整合将反映在明天生效的 Ethena 仪表板中。

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.

这一战略举措体现了 Ethena 对创新的承诺以及对可扩展性的坚定追求。通过利用 BTC 的流动性和稳定性，该项目预计将为 USDe 及其用户带来前所未有的增长机会。

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 作为 USDe 的抵押品，证明了该项目的前瞻性思维方法及其致力于提供强大且多功能的合成美元生态系统。随着加密货币市场的不断发展，Ethena 始终走在创新的前沿，不断寻求增强去中心化金融的可访问性、实用性和可扩展性的方法。