MakerDAO proposes allocating $600 million worth of DAI into USDe and sUSDe
MakerDAO is considering allocating $600 million worth of its stablecoin DAI into USDe and staked USDe (sUSDe) via the DeFi lending protocol Morpho Labs. The move would put Ethena total value locked growth “on track with internal expectations,” according to Ethena’s head of growth, Seraphim Czecker.
Both USDe and sUSDe are issued from the stablecoin developer Ethena Labs. Though currently in a proposal state, should the MakerDAO community confirm the move, it would put Ethena total value locked growth "on track with internal expectations," wrote Ethena Head of Growth Seraphim Czecker on X.
"Using the lowest of the above thresholds yields 600 million maximum recommended exposure to USDe," according to the proposal . "This will scale up gradually as Ethena grows, but for the time being we believe it is prudent to cap total allocation at this level."
USDe currently has 1.34 billion tokens in supply, which comprises 1.74% of the total Ethereum stablecoin supply, according to The Block's Data Dashboard.
Ethena raised $14 million at a total $300 million valuation in February, The Block previously reported.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
With retail investors leaving, what will drive the next bull market?
Bitcoin has recently plummeted by 28.57%, leading to market panic and a liquidity crunch. However, long-term structural positives are converging, including expectations of Federal Reserve rate cuts and SEC regulatory reforms. The market currently faces a contradiction between short-term pressures and long-term benefits. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved.
Tether's "son" STABLE crashes? Plunges 60% on first day, whale front-running and no CEX listing spark trust panic
The Stable public blockchain has launched its mainnet. As a project associated with Tether, it has attracted significant attention but performed poorly in the market, with its price plummeting by 60% and facing a crisis of confidence. It is also confronted with fierce competition and challenges related to its tokenomics. Summary generated by Mars AI. The accuracy and completeness of the content are still being iteratively updated.
Hassett: The Fed has ample room to cut interest rates significantly.
From "Crime Cycle" to Value Reversion: Four Major Opportunities for the Crypto Market in 2026
We are undergoing a “purification” that the market needs, which will make the crypto ecosystem better than ever before, potentially improving it tenfold.
Trending news
MoreCrypto prices
More
