Ethena incorporates tokenized assets of US stocks into its USDe support strategy: plans to hedge through Binance stock perpetual contracts

According to The Block, Ethena is incorporating tokenized U.S. stocks and Binance stock perpetual contracts into the foundational trading support strategy for USDe. Among them, Binance bStocks will serve as the tokenized spot support asset, while Ethena will hedge through Binance stock perpetual contracts to maintain Delta neutrality.

The Ethena Risk Committee has previously approved the inclusion of tokenized stock foundational trading into the allocation strategy. Ethena stated that the open interest for Binance stock perpetual contracts has currently exceeded $2.9 billion, with a monthly average compound growth rate of 105% this year, and the average annualized return for stock foundational trading over the past six months has been 3.56%; the company expects that as more stock market assets go on-chain, the opportunity size for stock perpetual contracts will ultimately significantly exceed that of the cryptocurrency perpetual contract market. Ethena Labs founder Guy Young stated that this is the most important expansion of its funding mechanism since the launch of USDe.