Ethena Plans to incorporate Binance-tokenized U.S. equities and stock perpetual contracts into USDe strategy
BIBIBI
AT A GLANCE
Ethena Plans to use Binance-tokenized stocks to back USDe, and hedge with stock perpetual contracts.
Article
Ethena Include tokenized U.S. equity assets in USDe backing strategy, with plans to hedge through Binance stock perpetual contracts
PANews September 25 reported, citing The Block, that Ethena is incorporating tokenized U.S. stocks and Binance stock perpetual contracts into USDe's basis trade backing strategy. Binance bStocks will serve as tokenized spot backing assets, while Ethena will hedge through Binance stock perpetual contracts to maintain Delta neutrality.Ethena The risk committee had previously approved the inclusion of tokenized stock basis trades in the allocation strategy.Ethena stated that open interest in Binance stock perpetual contracts has now exceeded 2900000000 USD, with a compound monthly growth rate this year of 105%, and that the average annualized return on stock basis trades over the past 6 months was 3.56%; the company expects that, as more stock-market assets move on-chain, the opportunity size for stock perpetual contracts will ultimately significantly exceed that of the cryptocurrency perpetual-contract market.Ethena La...
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🔗https://www.panewslab.com/zh/articles/01a0d83a-2e54-7180-bd74-923643120725
Key points
01
PANews stated, citing The Block, that Ethena is incorporating tokenized U.S. stocks and Binance stock perpetual contracts into USDe basis trade backing strategy.
02
Binance bStocks will serve as tokenized spot backing assets,Ethena with plans to hedge through Binance stock perpetual contracts to maintain Delta neutrality.
03
Ethena The risk committee had previously approved the inclusion of tokenized stock basis trades in the allocation strategy.
04
The original article states that open interest in Binance stock perpetual contracts has exceeded 2900000000 USD, with a compound monthly growth rate this year of 105%。
05
The original article states that the average annualized return on stock basis trades over the past 6 months was 3.56%。
06
Ethena expects that, as more stock-market assets move on-chain, the opportunity size for stock perpetual contracts will ultimately significantly exceed that of the cryptocurrency perpetual-contract market.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Simply put,Ethena plans to use tokenized U.S. equities as a class of backing assets while using stock perpetual contracts for hedging, with the goal of making the strategy's exposure to directional stock-price changes close to neutral.
Why it matters to readers
This indicates that USDe's backing strategy may expand to tokenized stocks and equity derivatives; however, the original article describes a proposed strategy and does not specify the final allocation size or actual implementation.
Tokenized stocks are stock-related assets represented on a blockchain; perpetual contracts are derivatives with no expiration date; Delta neutrality means seeking to reduce the impact of directional price changes.
Risks and unknowns
The information was relayed by PANews from The Block; the original article did not provide Ethena or an original announcement from Binance.
The original article does not state whether this strategy has actually been implemented or the size of the allocation.
Data such as open interest, growth rates, and annualized returns have not been independently verified in the supplied materials.
The evidence text ends with “Ethena La...”, and the content is incomplete.
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Related concepts
Tokenized Stocks
This term is not in the glossary yet. Browse related concepts in the glossary.
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
