Prezzo di USDeUSDE

5/ @ethena_labs’ USDe supply doubled in 30 days to $11.2B. $6.4B sits on @aave, mostly via @pendle_fi–Aave looping trades. Ethena is now one of DeFi’s most systemically important stablecoin issuers, with growth and risk tightly linked.

$GHO Coin: Aave’s DeFi-Backed Stablecoin Powering Sustainable Growth 1. Redefining On-Chain Dollars with GHO $GHO (“go”) is a decentralised, over-collateralized stablecoin native to Aave — fully backed and governed by the Aave DAO. Users mint GHO by supplying collateral in Aave v3 (e.g., ETH, wstETH, WBTC), all while still earning yield on their underlying assets. Interest on borrowed GHO flows directly to the Aave DAO treasury, strengthening the protocol’s long-term sustainability. --- 2. Governance-Driven Stability Mechanisms Facilitators: Aave DAO-approved smart contracts with minting limits (e.g., Aave v3 Ethereum market) manage supply. FlashMinter: Enables GHO flash loans—temporary minting for arbitrage—without expanding supply permanently. GHO Stability Module (GSM): Users can swap GHO for other stablecoins, supporting peg stability. GHO Stewards: Dynamic governance actors empowered to adjust borrow caps, fees, and peg parameters swiftly when needed. --- 3. From Ethereum to Arbitrum: Expanding Accessibility Aave has rolled out GHO on Arbitrum using Chainlink’s CCIP, enabling GHO minting via a lock-and-mint model. This improves transaction costs, accelerates liquidity, and broadens use cases. --- 4. Innovations: stkGHO, anti-GHO & sGHO stkGHO: A GHO variant staked in Aave's Safety Module, offering yield while safeguarding against insolvencies. anti-GHO: A non-transferable token rewarded to AAVE/staked BPT stakers, redeemable to cover GHO debt or convert to stkGHO. Half of GHO-generated revenue is distributed as anti-GHO. sGHO: A prospective “savings GHO” offering 6–10% APR, with lower risk and high liquidity—DAO-approved in principle and aiming to boost adoption further. --- 5. Real Use & Ecosystem Momentum Adoption So Far: GHO’s supply has grown from ~200M to a goal exceeding 300M, currently ranking among the top 20 stablecoins on-chain. Diverse Collateral: GHO is backed by a robust mix including wstETH (~34%), sDAI, WETH, WBTC, and AAVE, maintaining an over-collateralization ratio above 300%. Liquidity Growth: GHO’s liquidity has surged via incentivized pools — particularly the GHO/USDe pool on Curve, driven by the Ethena Shard program. --- 6. Institutional Integration & Real-World Expansion Via Aave Horizon, institutional players can deposit tokenized real-world assets as collateral to borrow GHO — bringing traditional capital into DeFi and boosting GHO's utility. Contributors include backers like BlackRock and Franklin Templeton. --- 7. What Makes $GHO a DeFi Milestone Feature Why It Matters Native Over-Collateralization Strong liquidity and on-chain trust—similar to DAI but integrated with Aave. Governance Control DAO manages issuance, rates, peg, and rollouts dynamically. Innovative Yield Layers stkGHO, anti-GHO, and sGHO power novel incentive structures. Cross-Chain Expansion Already live on Arbitrum, enabling faster and cheaper access. Institutional Touchpoints RWA integrations and tokenized financial instruments provide scalable demand. --- TL;DR $GHO is Aave’s DAO-governed, over-collateralized stablecoin. Utility includes minting via collateral, peg tools, and protocol revenue. Expanding cross-chain via Arbitrum + CCIP. New innovations: stkGHO, anti-GHO, sGHO. Institutional use case via Horizon and RWA deposits. Positioned as a more decentralized, interest-bearing alternative to USDC/USDT.

Over the past month, the fastest growing stablecoin has been Ethena USDe with $5.66b in supply added. This makes USDe the third largest stablecoin by market cap, behind USDT and USDC.

The total value locked (TVL) on yield-trading platform Pendle has surged past the $8 billion mark, representing a roughly 30% increase this month and positioning it as the ninth largest protocol by TVL. The majority of the growth has taken place on the Ethereum blockchain. A key factor driving growth is its close relationship with Ethena's stablecoin. Some 68% of Pendle's TVL is tied to USDe and sUSDe, making the protocol a direct proxy for the growth of Ethena's ecosystem and a bet on the continued expansion of high-yield, stablecoin-based strategies in the market.

RT @PendleIntern: Converge is laying the pathway to onboard institutional capital, and coincidentally also boasts the 2 highest USDe APYs:…