Ethena Labs, a pioneer in the provision of synthetic digital assets, has announced a strategic partnership with Bybit, one of the leading crypto exchanges. This collaboration is not just a meeting of two tech giants, but rather a step forward that has the potential to change the global crypto trading map.
USDe Integration
Ethena Labs recently integrated USDe, a large-scale synthetic dollar they developed, as a collateral asset for perpetual futures trading on Bybit. It is not only about adding new assets to the collateral list, but also about creating synergies between the stability of the USDe value and the high liquidity offered by Bybit.
More so, the partnership also introduced spot trading pairs for Bitcoin (BTC) and Ethereum (ETH) with USDe. The move not only enriches trading options for users, but also expands the utility of USDe, making it more than just a digital currency—a tool that empowers users within Bybit's vast ecosystem.
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Benefits of Ethena Cooperation
The benefits of this collaboration extend beyond just trade. Bybit's Earn platform will feature USDe, giving users the opportunity to use their synthetic dollars in Bybit's farming launchpool. This opens a new window for users to maximize their revenue and participate in broader earning activities.
Guy Young, CEO and founder of Ethena Labs, enthusiastically states the importance of this integration. "Offering USDe as collateral on Bybit, which is one of the most important derivatives venues in the crypto space, will open the next wave of growth for USDe," Young said. He also emphasized that USDe challenges the dominance of existing stablecoins by providing products tailored specifically for crypto users.
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USDe Backed by Bitcoin
USDe, promoted as the first large-scale synthetic dollar, has taken a bold step by introducing Bitcoin as a supporting asset. This step is followed by an airdrop of ENA governance tokens, which are awarded to eligible users. This marks a new chapter in the evolution of the USDe, which offers not only stability, but also transparency and participation in the governance of its ecosystem.
Conclusion
The collaboration between Ethena Labs and crypto exchanges is a reflection of the dynamics of the ever-evolving crypto trading ecosystem. It's not just about trading; It's about expanding opportunities for crypto users to leverage synthetic assets and increase their earnings. This innovation reflects the commitment of both entities to advancing the industry and providing added value to their users.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
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Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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