Ethena Labs has canceled the main feature of the BYBIT users: the ability to mint and recover the USDE directly on the stock exchange.
This integration is expected to simplify access to the artificial dollar of Ethina, allowing merchants to move smoothly between USDE and other stablecoins without the need for external portfolios.
With more than $ 3.5 billion in Usdt and USDC on Bybit, this development can significantly boost liquidity while enhancing capital efficiency for users. It should be noted that other stock exchanges have also invested heavily in the support of Ethina.
Beett and Ethina
The news comes amid the continuous drama of Bybit Hack, in which Lazarus, a group of North Korea pirates, has been washed more than $ 1.4 billion.
The new USDE function of Bybit means that users can now mint, recover and exchange the US dollar at a fixed cost on the stock exchange, eliminating the friction of the moving money between platforms. This is a big step forward for Stablecoin users looking for more efficient ways to interact with the chain assets.
Previously, the conversion between Stablecoins requires multiple transactions across governor and exchange, incurring network fees and delay. Now, with the combination of the entire USDe into the Bybit, traders can hedge efficiently, store and use USDE to ensure derivatives – all while earning negative rewards.
In addition, the community vote is taking place on $ ENA bonuses, where the first voters receive a double on their points. This indicates that Ethina’s ecosystem is developing quickly, with more incentives and integration soon.
