Ethena has recently revealed a strategic partnership with the crypto exchange Bybit, aiming to incorporate USDe as a collateral asset for trading perpetual futures across all assets within Bybit's UTA.
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According to data provider CryptoQuant, investors of USDe should keep an eye on the project's reserve fund to minimize risks associated with the possibility of a negative funding rate.
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Ethena Labs, a decentralized protocol focusing on the yield-bearing USDe stablecoin, has stirred debate among crypto traders since its public introduction in February, with comparisons drawn to the Terra ecosystem, which collapsed in 2021.
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