Bitget Expands Coin-Margined Contract with Integration of Ethena’s Synthetic USDe

by

As a seasoned crypto investor with several years of experience under my belt, I’m always on the lookout for exchanges and projects that offer innovative solutions to enhance my trading experience. Bitget has consistently been at the forefront of this trend, and their latest announcement about integrating USDe as a new margin option for coin-margined contracts is yet another testament to their commitment to providing users with more versatile trading strategies.

Bitget, the globally recognized cryptocurrency exchange, has recently introduced Ethena Labs’ USDe as an additional margin choice for coin-margined contracts. With this new integration, users gain access to expanded trading tactics and a more dynamic trading journey.

Prior to this, Bitget’s coin-margined futures allowed users to use multiple currencies as collateral for more than 230 trading pairs. Now, through the addition of USDe, users have an extra margin option in the form of a stable and secure synthetic dollar.

USDe enables users to implement a wider variety of trading plans, tailored to personal preferences, while enhancing capital utilization. Additionally, USDe provides a more stable and user-friendly platform for trading, offering greater flexibility.

As a researcher studying the dynamic world of stablecoins, I’ve been intrigued by the meteoric rise of USDe. A year ago, this particular stablecoin was nonexistent in the market. Yet today, it commands roughly 3% of the total stablecoin supply. This remarkable growth underscores the significance of thoughtfully crafted mechanisms and reinforces my enthusiasm for working with groundbreaking crypto-native projects. Bitget, led by its CEO Gracy Chen, is proud to be part of this innovative journey.

Recently, USDe has gained significant traction among investors thanks to its potential for delivering substantial annual returns. In April, the Ethena protocol introduced Bitcoin as collateral, enabling the generation of additional USDe tokens. This strategic move has proven effective, resulting in a TVL (Total Value Locked) surpassing $3 billion, based on DefiLlama’s latest data.

Bitget is committed to constant advancement and enhancement, offering users seamless and convenient trading experiences. Through this integration, we respond to the growing interest in advanced derivatives solutions, enabling users to expand their investment horizons using sophisticated tools such as AI for trading.

Read More

2024-06-05 09:08