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News/Ethena's dollar earns yield by taking the other side of leveraged longs $USDe holds spot crypto and shorts the same amount in perpetual futures. Price moves on the two sides cancel out, so the token holds a dollar without holding dollars. Perpetual futures carry a funding

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Ethena's dollar earns yield by taking the other side of leveraged longs $USDe holds spot crypto and shorts the same amount in perpetual futures. Price moves on the two sides cancel out, so the token holds a dollar without holding dollars. Perpetual futures carry a funding

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4 weeks ago·Neutral·Crypto News

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