Ethena is a protocol that issues synthetic dollar tokens like USDe and sUSDe, using crypto-backed strategies for yield generation.

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Ethena is a protocol that issues synthetic dollar tokens like USDe and sUSDe, using crypto-backed strategies for yield generation.

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The USDe and sUSDe tokens are interconnected in such a way that investors can receive a sUSDe token in exchange for a USDe token.

Ethena is the yield-generating protocol that markets the $5.4 billion token as a ‘synthetic dollar’ with its price anchored at $1.

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