Ethena’s new stablecoin UStb aims to manage risk for its existing synthetic stablecoin USDe during volatile market conditions by reallocating reserves.
UStb, investing in BlackRock’s BUIDL fund, will operate independently and introduce a different risk profile compared to the previously launched USDe stablecoin.
The team emphasized that USDe's existing strategy remains stable, but UStb can offer additional flexibility during bear markets by adjusting backing assets dynamically.
Ethena plans to list UStb on major centralized exchanges like Bybit and Bitget, possibly enhancing its overall market presence and usability.
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