Ethena Labs has proposed integrating SOL into the USDe treasury, which maintains a $1 peg through hedged trades and risk-managed reserves, enhancing collateral diversity.
USDe's method differs from conventional stablecoins like USDT or USDC, as it employs synthetic asset mechanisms rather than a direct fiat backing, using risk management to stabilize value.
The proposal, pending Risk Committee approval, aims for a $100-200 million allocation in SOL, reflecting a strategy akin to its positions in BTC and ETH.
Ethena's recent investment of $46 million into tokenized real-world assets illustrates a shift towards generating yield through asset-backed tokens within the DeFi landscape.
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