Question 1

What makes USDe different from USDT or USDC?

Accepted Answer

USDe is synthetic and crypto-backed, not fiat-backed. It uses delta-neutral strategies to maintain its peg.

Question 2

How does Ethena maintain its $1 peg?

Accepted Answer

Via delta-neutral positions: long ETH and short perpetuals to balance price movement.

Question 3

What role do staked ETH and LSTs play?

Accepted Answer

They provide yield and collateral. Rewards come from both staking and derivatives.

Question 4

Is Ethena’s yield sustainable?

Accepted Answer

Yields derive from real market incentives (not printed APY). Unlike Anchor, it's not subsidized.

Question 5

What are the risks of holding USDe or ENA?

Accepted Answer

Depeg, smart contract failure, centralized exchange exposure, derivatives risks.

Question 6

Does Ethena use centralized exchanges?

Accepted Answer

Yes, for executing short positions, which adds some custodial risk.

Question 7

Can USDe be used across DeFi?

Accepted Answer

Yes, it's live on platforms like Curve, Pendle, and Morpho.

Question 8

What does the ENA token do?

Accepted Answer

ENA is for governance and may later capture value from protocol revenues.

Question 9

Is Ethena compliant with regulations?

Accepted Answer

It's operating in a legal gray zone. Future scrutiny is likely.

Question 10

How does Ethena compare to DAI or sUSD?

Accepted Answer

It’s more capital-efficient than DAI and more stable than SNX-backed synths like sUSD.

Berita Ethena (ENA): Pembaruan, Judul & Analisis Terbaru