Ethena Adds Tokenized U.S. Stocks to USDe Backing Strategy
The move uses Binance bStocks as spot backing and stock perpetual contracts for delta-neutral hedging as open interest tops $2.9 billion.
Ethena is adding tokenized U.S. stocks to the backing strategy for USDe as open interest in Binance stock perpetual contracts surpasses $2.9 billion.
The strategy uses Binance bStocks as tokenized spot backing assets and stock perpetual contracts to hedge the exposure and maintain a delta-neutral position. Ethena’s risk committee previously approved adding stock-based basis trading to the allocation strategy.
Open interest in Binance stock perpetuals has grown at a 105% monthly compounded rate this year. The average annualized return for the stock-based basis strategy over the past six months was 3.56%.
The strategy uses backing assets and offsetting derivatives to maintain a delta-neutral position.
