USDe market value exceeds US$700 million

According to BlockBeats news, on March 4, the market value of USDe, a stablecoin issued by Ethena Labs, exceeded US$700 million and is now valued at US$742 million. It is reported that USDe is a stable currency based on Ethereum and is guaranteed by derivatives. It achieves price stability through "delta-neutral" hedging in centralized and decentralized venues. To create USDe, Ethena allows users to stake USD, ETH or liquid tokens as collateral.