Back

ZeroBase Founder Denies Converting Stablecoins to USDe or Staking Them

Mirror Tang refutes rumors on social media about ZeroBase’s involvement in USDe-based arbitrage strategies.

USDE

Summary

Mirror Tang, founder of ZeroBase, clarified on social media that the company did not convert stablecoins to USDe nor engage in staking activities. This statement counters speculation regarding ZeroBase’s involvement in arbitrage using USDe.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value by pegging it to a reserve asset such as fiat currency or commodities.
  • USDe: A decentralized stablecoin issued by Ethena, designed to maintain price stability through algorithmic and collateral mechanisms.
  • Arbitrage: A trading strategy that seeks profit from price differences of the same asset across different markets or platforms.