Leading global cryptocurrency exchange Huobi HTX today announced the upcoming listing of USDe, a synthetic dollar launched by Ethena, further providing global users with access to innovative on-chain financial infrastructure and continuously enriching Huobi HTX's digital asset ecosystem. The listing of USDe highlights Huobi HTX's long-term commitment to supporting cutting-edge digital assets and providing global users with a secure and forward-looking gateway to DeFi innovation.
Justin Sun, Global Advisor of Huobi HTX, stated: "At Huobi HTX, we consistently focus on and explore new models that push the boundaries of digital finance. USDe offers a novel implementation path for a digital dollar—it is native to the crypto market and deeply integrated into the DeFi system. We are thrilled to partner with Ethena and bring this innovative asset to global Huobi HTX users."
Ethena and the USDe Ecosystem
The decentralized finance protocol Ethena is dedicated to building a crypto-native, scalable alternative to traditional dollar-denominated currency. Its core product, USDe, aims to create a synthetic dollar that relies almost not at all on the traditional banking system or fiat reserves.
Unlike conventional stablecoins backed by cash or government securities, USDe is collateralized by crypto assets and achieves price stability through a Delta-neutral hedging strategy. This mechanism involves holding spot crypto assets alongside corresponding derivative short positions to offset market price volatility risks, thereby anchoring USDe's value to the US dollar.
How USDe Works
USDe's Delta-neutral design distinguishes its operational logic from that of traditional stablecoins. Its stability does not rely on off-chain asset reserves but is based on on-chain collateral and risk hedging strategies in highly liquid derivative markets. This structure allows USDe to be fully integrated into the crypto ecosystem while effectively reducing directional market risk.
Unlocking New Opportunities for Huobi HTX Users
With the upcoming listing of USDe, Huobi HTX users will be able to deeply connect with the crypto-native dollar asset within the DeFi ecosystem, usable for trading, asset allocation, and diversified investment strategies. Furthermore, users can explore on-chain application scenarios such as decentralized lending, liquidity provision, and yield optimization.
Additionally, Huobi HTX will later launch an earnings feature, enabling users to receive daily incentive rewards provided by the platform for holding USDe or using it as contract margin, further enhancing capital efficiency and trading flexibility.
This integration further solidifies Huobi HTX's role as a vital bridge connecting centralized trading infrastructure with decentralized financial innovation, allowing users to participate in next-generation DeFi financial tools within a familiar and trusted platform environment.
Elliot Parker, Chief Operating Officer of Ethena Labs, stated: "The collaboration between Huobi HTX and Ethena, which allows users to earn daily rewards while using USDe as contract margin, is a significant step towards broader adoption of USDe. It also enables Huobi HTX users to experience a superior, more efficient form of digital currency, better supporting their trading needs."
Looking Ahead
By supporting USDe, Huobi HTX continues to consolidate its leading position in the field of digital asset innovation. As centralized trading platforms and the DeFi ecosystem accelerate their integration, Huobi HTX will remain committed to providing users with high-quality assets, robust infrastructure, and next-generation financial tools, helping global users seize opportunities in the Web3 era.
Further details regarding the USDe listing timeline and related activities will be announced shortly. Please stay tuned for subsequent announcements from Huobi HTX.
About Huobi HTX
Huobi HTX, founded in 2013, has evolved over its 12-year history from a cryptocurrency exchange into a comprehensive blockchain business ecosystem encompassing digital asset trading, financial derivatives, research, investment, incubation, and other services.
As a leading global Web3 gateway, Huobi HTX adheres to a development strategy focused on global expansion, ecological prosperity, wealth effect, and security and compliance, providing comprehensive, secure, and reliable value and services to virtual currency enthusiasts worldwide.
To learn more about Huobi HTX, please visithttps://www.htx.com/ or HTX Square, and follow us on X, Telegram, and Discord. For further inquiries, please contact [email protected].
About Ethena
Ethena is a synthetic dollar protocol built on Ethereum, dedicated to providing the market with a crypto-native currency solution, USDe, and an asset, sUSDe, for global users to save in US dollars.
Ethena's synthetic dollar USDe achieves its goal of being a crypto-native, scalable monetary form through Delta hedging of Bitcoin, Ethereum, and other governance-approved spot assets. Specifically, the mechanism utilizes a combination of perpetual and futures contracts for hedging, while holding highly liquid stablecoins including USDC and USDT to enhance overall stability and liquidity.
USDe is a fully collateralized asset (though note that certain specific events may lead to loss of supporting assets, as described in the risk section) and can be freely combined and used within both centralized finance (CeFi) and decentralized finance (DeFi) ecosystems.
