Since
$sUSDe APY went to 29% on Nov 13th, inflows into
$USDe have risen dramatically📊📈
Total inflows since Nov. 13: +$265m
Average daily inflow has more than doubled to $53m while 65% of
$USDe supply has been staked as
$sUSDe
In strong bull runs where funding rates explode higher,
@ethena can offer stablecoin APYs that other
#DeFi protocols simply can't match.
The numbers speak for themselves!
Keen in mind however that the Ethena protocol has numerous risks!
The biggest one imo is CEX risk:
Ethena's strategy involves trading on centralized exchanges for its derivatives positions. If one of these exchanges fails or becomes unavailable (like what happened with FTX), Ethena might face difficulties in managing its hedging positions, potentially leading to losses if profits from these positions are tied up or lost.
$ENA