Ethena Proposes BlackRock-Backed Stablecoin for Hyperliquid
Ethena Proposes BlackRock-Backed Stablecoin for Hyperliquid
馃弫 Ethena vs Competition
Ethena enters the competition to create a stablecoin for Hyperliquid's DeFi ecosystem with backing from BlackRock.
The proposal builds on Ethena's experience with synthetic assets and follows their previous launch of UStb, also backed by BlackRock. This move positions Ethena to expand its stablecoin offerings beyond USDe.
Key developments:
- Leverages Ethena's synthetic asset expertise
- BlackRock provides institutional backing
- Targets Hyperliquid's growing DeFi platform
The partnership could enhance stability and adoption in DeFi markets, building on Ethena's track record with stablecoin infrastructure.
Ethena joins the race for Hyperliquid's stablecoin with a BlackRock-backed proposal! 馃Ε The plan leverages Ethena's expertise in synthetic assets to create a stablecoin for Hyperliquid's DeFi ecosystem.
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