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The native token of the synthetic dollar protocol developer Ethena (ENA<\/a>) surged by more than 45% this week as the project rolled out multiple new products.<\/p>\n Ethena\u00a0aims<\/a>\u00a0to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called\u00a0USDe<\/a>.<\/p>\n The protocol also offers a dollar-denominated savings instrument called \u201cthe Internet Bond.\u201d<\/p>\n ENA is trading at 0.361 at time of writing, up from around $0.248 one week ago. The 115th-ranked crypto asset by market cap is also up more than 14% in the past 24 hours.<\/p>\n On Tuesday, Ethena announced<\/a> that its partnership with the Ethereum (ETH<\/a>) restaking protocol EigenLayer (EIGEN) went live.<\/p>\n Explained<\/a> Ethena earlier this month,<\/p>\n \u201cWe are excited to share that Ethena has partnered with EigenLayer and Ether.fi to introduce USDe as the first dollar-denominated token that can be used as security within its generalized shared security platform.<\/em><\/p>\n Expanding restaked collateral to include dollar-denominated underlying assets broadens the potential use cases for Actively Validated Services (AVS) who prefer less volatile collateral. Previously, it was only possible to use ETH-based assets as collateral for staking.\u201d<\/em><\/p>\n On Thursday, the synthetic dollar protocol also rolled out<\/a> UStb, a new stablecoin product fully backed by the asset management giant BlackRock\u2019s USD Institutional Digital Liquidity Fund (BUIDL).<\/p>\n BUIDL is BlackRock\u2019s first tokenized fund that invests in cash, U.S. Treasury bills and repurchase agreements.<\/p>\n Explains<\/a> Ethena,<\/p>\n \u201cThis will exist as an isolated product separate from USDe offering users and exchange partners a new product with a differentiated risk profile to USDe.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The native token of the synthetic dollar protocol developer Ethena (ENA) surged by more than 45% this week as the project rolled out multiple new products. Ethena\u00a0aims\u00a0to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called\u00a0USDe. The protocol also offers a dollar-denominated savings instrument called \u201cthe […]<\/p>\n","protected":false},"author":2,"featured_media":357755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-357753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/357753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=357753"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/357753\/revisions"}],"predecessor-version":[{"id":357757,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/357753\/revisions\/357757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/357755"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=357753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=357753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=357753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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