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Ethena’s Stablecoin TVL Surpasses $16 Billion Amid Binance APY Promotion

Ethena Labs’ stablecoin products, USDe and USDtb, reach new all-time high TVL as Binance introduces a limited-time 12% APY offer for holding USDe.

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Summary

Ethena Labs reported that the total value locked (TVL) for its stablecoin products, USDe and USDtb, has surpassed $16 billion, marking a new all-time high. This milestone coincides with Binance’s launch of a rewards program offering up to 12% annual yield for holding USDe.

Terms & Concepts
  • Total Value Locked (TVL): The total value of assets deposited in a blockchain protocol, representing user participation and trust in the platform.
  • Stablecoin: A cryptocurrency designed to maintain a stable value by pegging it to a reserve asset like the US dollar.
  • APY (Annual Percentage Yield): The annual rate of return earned on an investment, factoring in compound interest over the year.