Bybit & Ethena Join Forces to Unlock Breakthrough Rewards & Efficient Collateral Management with USDe By Chainwire

Dubai, United Arab Emirates, August 2nd, 2024, Chainwire

Bybit, the world’s second-largest crypto exchange by trading volume, is proud to announce the integration of USDe, a groundbreaking reward-bearing stable margin collateral, into its platform. This integration marks a significant milestone in empowering traders to efficiently manage their collateral while unlocking rewards and earning yields.

This strategic integration between Bybit and Ethena represents a forward-looking move that seeks to reshape the stablecoin landscape in the cryptocurrency industry. Bybit’s adoption of Ethena’s USDe introduces a new paradigm in trading rewards and collateral management.

“We are thrilled to announce this partnership with Ethena, aligning great minds to drive industry innovations,” said Ben Zhou, co-founder and CEO at Bybit. “Enabling USDe integration on Bybit offers us unparalleled strategic advantages in fostering and shaping a more vibrant and resilient crypto ecosystem. We look forward to the groundbreaking developments this partnership will bring, and the positive impact it will have on our users and the broader crypto community.”

“Ethena’s integration with Bybit is a significant step in driving use cases for USDe,” said Guy Young, CEO and Founder of Ethena Labs. “Offering USDe as collateral on Bybit which is one of the most important derivative venues in all of crypto will unlock USDe’s next wave of growth, further challenging the existing stablecoin hegemony with a tailored product purpose-built for crypto-natives.”

Key highlights of the campaign:

Users can enjoy a daily airdrop of up to 20% APR with USDe exclusively, coupled with a remarkable 90% collateral value ratio (CVR).Users can effortlessly accumulate rewards by simply holding USDe, eliminating the need for staking or locking mechanisms.Users will receive their rewards daily at 6AM UTC directly into their Funding accounts, without any minimum holding requirements. Users can buy and sell with zero fees across both USDe/USDT and USDe/USDC spot pairs.For more information, visit: https://announcements.bybit.com/en/article/supercharge-your-returns-with-usde-enjoy-up-to-20-apr-blt51cc40408924bb2c/

About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:) Red Bull Racing team.For more details about Bybit, please visit Bybit Press. For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.com

This article was originally published on Chainwire