stablecoins | ForkLog

ForkLog 25 16.04.2024

Analysts Examine USDe Stablecoin Vulnerabilities Amid Market Volatility

In a bear market, rewards from shorts on derivatives may be insufficient to maintain USDe’s stability. Concerns arise over the diversification of centralized partners. The growth of the “synthetic dollar” could limit the capacity of the crypto derivatives market. To gain trust, USDe from Ethena Labs must demonstrate resilience in adverse market conditions. Experts outlined […]

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ForkLog 22 08.04.2024

ENA Rises 11% Amid Increased Staking Rewards

The team at Ethena Labs has increased rewards for those staking a significant volume of ENA. The token responded with an 11% rise, reaching $1.3. 15-minute ENA/USDT chart on Binance. Data: TradingView. According to the updated policy, from April 8, the minimum staking period for ENA is seven days. For users locking more than 50% […]

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ForkLog 13 05.04.2024

Ethena Labs Incorporates Bitcoin into USDe Collateral, Drawing Comparisons to LUNA

Ethena Labs has integrated Bitcoin as a collateral asset for its “synthetic dollar” USDe. An expert has described this as a risk to digital gold. Excited to announce that Ethena has onboarded BTC as a backing asset to USDe This is a crucial unlock which will enable USDe to scale significantly from the current $2bn […]

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ForkLog 33 04.04.2024

PayPal Expands PYUSD for International Transactions

On April 4, the payment company PayPal announced the launch of its cross-border payment and transfer service, Xoom. Eligible U.S. customers can now convert PayPal USD to USD to fund transfers on Xoom, PayPal’s cross-border money transfer service. This new option allows eligible U.S. Xoom users to send money to friends and family abroad with […]

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ForkLog 14 04.04.2024

Ripple Sets Timeline for Launch of Its Own Stablecoin

Ripple has announced plans to launch its own stablecoin, pegged to the US dollar, by the end of 2024. 1/ The stablecoin market is booming – around $150B today, and projected to soar past $2.8T by 2028. There’s a clear demand for trust, stability, and utility. That’s why later this year we’re launching a stablecoin […]

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ForkLog 18 03.04.2024

Bitcoin Sales from Silk Road and Ethereum’s Quarterly Earnings: A Crypto Market Analysis

Following a correction, Bitcoin regained some ground, and other digital assets also showed positive trends. The current market is highly sensitive to news, prompting ForkLog to analyze recent events and gather expert opinions on the industry’s state. Sales and Purchases On April 2, a U.S. government-controlled wallet initiated a transfer of approximately 2,000 BTC (~$131 […]

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ForkLog 14 02.04.2024

Analyst Demands $1 Million for Revealing Vulnerability in USDe Stablecoin

On-chain investigator TardFiWhale has raised concerns over structural weaknesses in the “synthetic stablecoin” USDe, developed on Ethereum by the Ethena Labs team. They’re paying me off to stop shitposting Ethena; how they’re launching a bug bounty program AFTER launching their token allowing insiders to cash out from their shard campaign participation and hedge out with […]

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ForkLog 16 02.04.2024

Ethena Labs Launches ENA Claim as Exchanges List Token

Ethena Labs, associated with the Ethereum-based synthetic stablecoin USDe, has opened a claim page for 750 million governance tokens, ENA. Several centralized platforms, including Binance, have listed the asset. The claim page for $ENA is now live:https://t.co/inUyUBQrzL Please ensure you are using only this link and avoiding links posted anywhere else This is the only […]

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ForkLog 22 02.04.2024

Coinbase Criticises Basel Committee’s Stablecoin Requirements

The Basel Committee on Banking Supervision’s requirements reveal an intent to significantly restrict banks’ holding and use of stablecoins. This is stated in comments from Coinbase on the organisation’s consultative document. “Many proposals are not based on the risks of stablecoins to the bank, but rather reflect other policy objectives that the Committee does not […]

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ForkLog 18 02.04.2024

MakerDAO Considers Increasing Investment in Ethena’s USDe to $600 Million

DeFi project MakerDAO is considering setting a limit of 600 million DAI for investments in USDe through the Morpho Labs protocol. The “synthetic stablecoin” based on Ethereum is issued and supported by Ethena Labs. The governance proposal from MakerDAO states that USDe provides a reward score of seven, while the “wrapped” version sUSDe from Morpho […]

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ForkLog 20 28.03.2024

Ethena Labs to Airdrop 750 Million ENA Tokens

On April 2, the DeFi protocol Ethena Labs will initiate an airdrop of 750 million ENA governance tokens among participants of the Shard incentive program. The distributed tokens will account for 5% of the total issuance of 15 billion. Users will receive tokens corresponding to the points—“shards”—accumulated during Shard up to April 1. The assets […]

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ForkLog 15 27.03.2024

IMF Sees Benefits of Stablecoins and CBDCs for Remote Nations

Central bank digital currencies (CBDCs) and stablecoins could enhance the accessibility and quality of financial services for Pacific island nations, according to a report by the International Monetary Fund (IMF). Experts highlighted the challenges faced by “dozens” of jurisdictions and microstates in the Pacific islands region: “Limited access to financial services contributes to persistent poverty […]

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