KTX.Finance x Ethena Labs š
Integrating $USDe & $ENA into KLP
Hey KTX community, we are thrilled to announce our strategic collaboration with Ethena Labs, a censorship-resistant, scalable synthetic dollar protocol. Hereās an overview of the weāre embarking on together.
Diving into Ethena
Ethena is a synthetic dollar built on Ethereum that is bringing a new way to earn yield with stablecoins. In their own words, theyāve created the āInternet Bondā. Their synthetic dollar, dubbed USDe, is a first of its kind. It is both censorship-resistant and scalable, whilst being fully backed at a 1:1 level by its collateral. So how can Ethena offer high yields on their USDe, and where is the yield derived from?
ā» USDe is issued by users who deposited either USD, LSTs, ETH, and now BTC.
ā» Ethena then takes that collateral and delta hedges by shorting ETH and BTC perpetual futures contracts, or perps.
So the combination of yield from the stETH collateral along with funding rates from shorting the perps contracts, makes up the USDe APY.
For example, they can take on $1M in stETH collateral and then short an equivalent notional amount on a number of centralized exchanges like Binance, Huobi, Bybit, etc. This allows for a broad range of yield to be captured on many different exchanges, taking advantage of inefficiencies where funding can be higher on certain CEXs.
USDe integration into KLP
Weāre shipping new native yield from USDe to our KLP holders. At KTX, weāre all about maximizing your opportunities. Our integration of USDe into our KLP, opens many possibilities for our users:
1ļøā£Swap USDe at zero price slippage & impact
2ļøā£Trade Perps w up to 100x leverage using USDe
3ļøā£Earn high native yields from USDe deposits
This integration means youāll have direct access to USDeās native yield, allowing you to diversify and supercharge your earnings like never before.
š https://twitter.com/KTX_finance/status/1780930915113599265
Trading $ENA with up to 100x leverage
Get ready for a game-changing experience, as KTX becomes the go-to PerpDex on Mantle for trading ENA perps with leverage of up to 100x. Weāre bringing you an exclusive opportunity to trade with unprecedented leverage, empowering you to execute your trading strategies with confidence and agility.
In essence, our partnership with Ethena Labs represents our shared vision for reshaping the DeFi landscape. Together, weāre set to redefine the rules, break new ground, and unlock an array of opportunities for our community. Stay tuned for more updates as we dive into this exciting journey of innovation and growth. Itās time to elevate your DeFi experience with KTX.Finance and Ethena Labs!
