Ethena Labs, a prominent derivative infrastructure provider, has recently started an exclusive partnership. As per Injective, a well-known blockchain platform, the collaboration takes into account the integration between both entities to expand beyond the Ethereum Ecosystem. Injective recently announced the respective development on the popular social media platform X.
The Latest Integration between Injective and Ethena Labs Targets Expansion Beyond Ethereum
The company disclosed that the respective integration is a significant step. It added that this will potentially contribute to elevating Injective and Ethena Labs’ reach. In addition to this, Injective asserted that this endeavor will facilitate the firm as well as the wider IBC community. As a result of this, the recipients will have the ability to access USDe.
Moreover, the consumers will also have the capability to obtain Ethena Shards. According to Injective, this will start on the 11th of this month. In several posts on X, the firm also revealed that the clients can access USDe through diverse decentralized applications. However, it asserted that the applications must be built on Injective.
Ethena Labs Launches USDe to Offer Censorship-Resistant, Scalable, and Stable Digital Asset Solution
It also pointed toward “@HelixApp_” as an example of such dApps. While moving on, it also highlighted its approximately zero fees. This endeavor of the firm reportedly signifies that decentralized applications are emerging as the most economical gateway to get USDe. USDe is a synthetic dollar that Ethena has developed. It would potentially provide a censorship-resistant, scalable, and stable solution for the overall digital asset industry.
Dissimilar to conventional stable assets, USDe depends on cutting-edge technologies. These technologies take into account delta-hedging. Furthermore, it also relies on established assets such as ETH for the maintenance of its dollar peg. In a devoted blog post on this integration, Injective mentioned that this endeavor demonstrates the matchless access between Injective and Ethereum.
