MEXC invests $36M in Ethena to boost USDe adoption and expand Ethena ecosystem
Mexc announced an allocation of $ 20 million to the Synthetic Dollar of Ethena Usde and $ 16 million in Ethena laboratories to finance user incentives to stimulate the adoption of stables.
February 26, Mexc Crypto Exchange announcement that he had allocated $ 20 million to the USDE. In addition, Mexc Ventures, the investment branch of MexcInvested $ 16 million in Ethena (This one) To be used for stable incentives to the user focused on the user for users, including the possibilities of winning rewards in high -access stimulation events.
Ethena’s Usde is classified as a stablecoin, but it differs from classic stables like Tether (USDT) and a USD part (USDC) in that it offers its carriers a yield of 9%. At the time of writing time, USDE market capitalization is $ 5.86 billion, which makes it third largest stablecoin by marketAfter USDT and USDC.
Ethena not only issued TO USE for the generation of elements. It also builds a complete ecosystem To support it, including Ethereal, a punctual trading platform and derive, a chain option protocol.
Mexc’s investment follows the recent closure by Ethena from a $ 100 million financing outletWho had seen the support of large investors like Franklin Templeton. According to BloombergThis fundraising was carried out by a private sale of the governance token of Ethena Ena.
The fundraising effort was for the Launch of the new token, Iusde. Iusde will be a regulated version of the existing synthetic dollar of Ethena, adapted to traditional financial institutions looking for an exposure to cryptography without investing directly in digital assets, according to Young guyThe founder of Ethena Labs. Would haveEthena also intends to use part of the funds to support the development of her own blockchain.
Supported by these developments, the ENA price has increased by 7% in the last 24 hours, negotiating at $ 0.44, with the negotiation volume of around $ 300 million, according to Coinmarketcap.
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