Ethena says Binance equity basis has averaged roughly 11%+ annualized over the past six months, with open interest growing about 30% per month in the last three months. Tokenized stocks (bStocks) will serve as spot collateral, hedged with Binance USDT-denominated equity perpetuals using the same delta-neutral structure applied to crypto. Binance reportedly offers lower auto-deleveraging priority for eligible delta-neutral accounts, a risk mitigation for USDe holders. Ethena expects equity perpetuals to exceed the $15b+ in crypto perpetuals captured last cycle; allocations began after Risk Committee review and due diligence, with transparency dashboards published.

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Thread · 2 events · started 28 Aug 21:29 · last update 26 Sep 11:46 · quiet
  1. UpdateEthena partners with Binance to expand USDe backing into tokenized stocks and equity perpetuals45 acc.
  2. Leviathan published this article
  3. UpdateEthena expands USDe backing to tokenized stocks through Binance3 acc.

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Cited posts

  • @TheBlockCo The BlockFirst reportOn X ↗

    EXCLUSIVE: Ethena expands USDe backing strategy into bStocks and equity perpetuals on Binance https://t.co/xKRFiUJD2O

  • @ethenaOn X ↗

    Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch. This expands the addressable market of underlying collateral from $2.5 trillion of…

  • @Ethena_Eco Ethena EcosystemOn X ↗

    Ethena is partnering with @Binance as the first venue for the extension of the basis trade into equity perpetuals. https://t.co/DmudcM2elo

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  • @cryptounfolded unfolded.On X ↗

    Ethena expands USDe backing strategy into bStocks and equity perpetuals on Binance

  • @Crypto_Briefing Crypto BriefingOn X ↗

    📈NEW: Ethena partners with Binance to extend USDe’s basis trade into equity perpetuals, using bStocks as tokenized spot collateral hedged with USDT-denominated equity perps.

  • @UpsideMediaoff UpsideOn X ↗

    🚨 Ethena fait entrer les actions américaines dans la réserve de l'USDe, son dollar synthétique. Jusqu'ici, le protocole appliquait sa stratégie aux seuls cryptoactifs. Il achète l'actif au comptant et vend en parallèle un contrat perpétuel de même taille, ce qui neutralise…

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