Ethena Labs的USDE继续采取行动将自己定位为USDC和USDT的逻辑替代品

Ethena Labs的USDE继续采取行动将自己定位为USDC和USDT的逻辑替代品，因为Stablecoin竞争激增。

Ethena Labs' USDe continues to make moves to position itself as a logical alternative to USDC and USDT as the stablecoin competition heats up. The latest in a series of progressive moves Ethena Labs has made regarding USDe involves Bybit, one of the largest exchanges in the industry right now.

Ethena Labs的USDE继续采取行动将自己定位为USDC和USDT的逻辑替代品，因为Stablecoin竞争激增。 Ethena Labs关于USDE的一系列进步行动中的最新动作涉及Bybit，Bybit是该行业中最大的交易所之一。

According to a tweet from Bybit, the exchange's users can now mint, redeem, and earn USDe on Bybit On-chain earn, an ongoing campaign. Ethena Labs also shared a tweet to commemorate the partnership, explaining that the new development allows Bybit users to mint and redeem USDe natively without leaving the platform.

根据Bybit的一条推文，交易所的用户现在可以在Bybit链上赚钱，兑换并赚取USDE，这是一项正在进行的活动。 Ethena Labs还分享了一条推文来纪念合作伙伴关系，并解释说，新开发项目使Bybit用户可以在不离开平台的情况下铸造和兑换USDE。

USDe Mint/Redeem now live on Bybit with @ethena_labs!

USDE MINT/赎回现在与@ethena_labs一起生活在Bybit上！

Mint, redeem, and earn USDe—exclusively on Bybit On-Chain Earn! 🚀

薄荷，兑换和赚取USDE-在Bybit上固定链接！ 🚀

Seamless. Effortless. Limitless.

无缝的。毫不费力。无限。

Mint Now: https://t.co/rZFJQhxilw pic.twitter.com/bZ78AyI83l

现在造币

— Bybit (@Bybit_Official) March 4, 2025

- bybit（@bybit_official）2025年3月4日

According to the tweet from Ethena Labs regarding the new Bybit partnership, there is over $3.5bn worth of USDT & USDC on Bybit, and this functionality will help users of all sizes to seamlessly move between USDe and other stablecoins at fixed costs. This is expected to help support deeper liquidity on the exchange.

根据Ethena Labs关于新的BYBIT合作伙伴关系的推文，BYBIT上有超过35亿美元的USDT和USDC，此功能将帮助各种规模的用户以固定成本在USDE和其他Stablecoins之间无缝移动。预计这将有助于支持交换的更深层次的流动性。

According to Ethena Labs, "this feature perfectly complements Bybit USDe holders’ ability to earn rewards for holding USDe as well as using it as derivatives margin collateral."

根据Ethena Labs的说法，“此功能完美地补充了Bybit Usde持有者在持有USDE以及将其用作衍生工具边缘抵押品方面获得奖励的能力。”

The tweet ended with Ethena Labs highlighting how committed it and Bybit are to creating innovative user experiences and further improving users’ capital efficiency.

这条推文以埃塞纳（Ethena）实验室结束，强调了它的努力和bybit是为了创造创新的用户体验并进一步提高用户的资本效率。

With the Bybit integration, USDe gains a larger user base, making it an even bigger contender in the stablecoin race, which is getting more serious as the crypto industry hedges closer to mass adoption.

随着BYBIT集成，USDE获得了更大的用户群，这使其成为Stablecoin竞赛中更大的竞争者，随着加密货币行业的树篱更接近大众采用，这变得越来越严重。

Aside from the partnership with Bybit, Ethena's USDe has also been enjoying recent popularity in the industry as several other entities seem bullish on it.

除了与Bybit的合作伙伴关系外，Ethena的USDE还享有该行业的最新知名度，因为其他几个实体似乎看涨。

Last month, MEXC cryptocurrency exchange invested in Ethena as part of a broader push to promote stablecoin development and adoption. MEXC made the announcement on February 26, claiming it allocated $20 million to Ethena's synthetic US dollar, USDe, and $16 million to developer Ethena Labs.

上个月，MEXC加密货币交易所投资于Ethena，这是促进Stablecoin开发和采用的广泛推动力的一部分。 MEXC于2月26日宣布了这一消息，声称它向Ethena的合成美元，USDE和1600万美元分配了2000万美元，并向开发人员Ethena Labs分配了1600万美元。

Like Bybit, the exchange also launched a $1 million reward pool to encourage participation in USDe trading and staking. It is not hard to see why MEXC made such a huge commitment.

与Bybit一样，交易所还推出了100万美元的奖励池，以鼓励参与USDE交易和积累。不难看出为什么MEXC做出如此巨大的承诺。

The exchange's chief operating officer, Tracy Jin, believes stablecoins have a “pivotal role” to play in promoting cryptocurrency usage and adoption.

交易所的首席运营官特雷西·金（Tracy Jin）认为，稳定的人在促进加密货币使用和收养方面起着“关键作用”。

USDe has a circulating supply of nearly $5.4 billion, making it the third-largest stablecoin by market capitalization.

USDE的循环供应近54亿美元，使其成为市值的第三大稳定币。

MEXC's investment followed Ethena reportedly closing a $100-million funding round backed by major investors, including the famed Franklin Templeton.

据报道，埃塞纳（Ethena）结束了由主要投资者（包括著名的富兰克林·邓普顿（Franklin Templeton））支持的1亿美元的资金回合之后，MEXC的投资结束了1亿美元的资金。

According to a Bloomberg report, the fundraising was financed via a private sale of Ethena's governance token, ENA and the funds will be used to build a blockchain and token for the traditional finance industry.

根据彭博社的一份报告，筹款是通过私人出售埃塞纳治理令牌，ENA，ENA和资金将用于建造传统金融业的区块链和代币的资助。

According to Ethena Labs' founder, Guy Young in a January blog post, Ethena has plans to deploy iUSDe, a token with the sole purpose of regulating financial institutions.

根据Ethena Labs的创始人，盖伊·杨（Guy Young）在一月份的博客文章中，埃塞纳（Ethena）计划部署iusde，这是一个具有监管金融机构的唯一目的。

This token differs from USDe in that it is designed to “export” the benefits of USDe to traditional finance institutions. In short, its purpose is to bridge crypto yields with regulated financial markets.

该令牌与USDE的不同之处在于，它旨在“导出” USDE对传统金融机构的好处。简而言之，其目的是将加密货币收益率与受管制的金融市场弥合。

iUSDe shares the same delta-neutral stability mechanism as USDe which means it maintains its peg by collateralizing stablecoins and taking futures positions with large open interest. However, it also includes “transfer restrictions” to comply with TradFi regulatory requirements.

IUSDE具有与USDE相同的Delta中性稳定机制，这意味着它通过抵押稳定的稳定稳定和以较高的开放兴趣来维持其PEG。但是，它还包括“转移限制”，以符合Tradfi监管要求。

It is essentially a wrapped version of sUSDe created specifically for institutional use. So, while USDe is available for regular users, iUSDe will be restricted to approved institutional players via partnerships with TradFi distribution channels.

它本质上是专门为机构使用而创建的SUSDE版本。因此，尽管USDE可用于常规用户，但IUSDE将仅限于通过与TradFI分销渠道的合作伙伴关系获得批准的机构参与者。

As far as yield is concerned, it will offer a similar yield to sUSDe, which is around 10-20%. However, it’s being touted as a “savings token” for institutions to access without direct blockchain exposure.

就收益率而言，它将提供与Susde相似的收益率，该收益率约为10-20％。但是，它被吹捧为“储蓄令牌”，供机构访问而无需直接区块链。

Ethena Labs' USDe stands out from other stablecoins, like Tether's USDT and Circle's USDC because it uses a hedging strategy collateralized by cryptocurrencies. USDe holders are also offered a 9% yield by Ethena Labs.

Ethena Labs的USDE在其他Stablecoins中脱颖而出，例如Tether的USDT和Circle的USDC，因为它使用了由加密货币抵押的对冲策略。 Ethena Labs还为USDE持有人提供了9％的收益率。