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A certain exchange recently announced the addition of multiple trading pairs, including USDE/Korean Won, BTC/USDE, and USDT/USDE combinations, providing users with more flexible trading options.
Ethena's USDe is a noteworthy innovative product in the synthetic stablecoin space. It adopts a delta-neutral structure design—simply put, it involves holding crypto assets as collateral while hedging risk through derivative short positions. For example, locking ETH or BTC as collateral while opening short positions in the derivatives market can offset price fluctuations and maintain the stability of the stablecoin.
The benefit of this mechanism is that it does not rely on traditional fiat reserves and operates entirely on-chain, increasing transparency. For traders, the launch of more trading pairs means more options for deposits, withdrawals, and hedging, and liquidity will be further optimized.