Ethena’s Risk Committee, which operates independently from Ethena Labs, is currently reviewing a proposal to integrate SOL as a collateral asset for USDe. If approved, this integration would involve an initial allocation target of $100-200 million in SOL positions. This allocation is expected to represent approximately 5-10% of SOL’s open interest, which is consistent with its current stake in BTC and ETH.
The decision to include SOL as a collateral asset for USDe is significant, as it reflects Ethena’s commitment to diversifying its holdings and incorporating assets with strong growth potential. By expanding its collateral options to include SOL, Ethena can enhance the stability and sustainability of its DeFi ecosystem.
Overall, the proposed integration of SOL as a collateral asset for USDe represents a strategic move that aligns with Ethena’s long-term vision for growth and innovation in the decentralized finance space. Stay tuned for updates on the Risk Committee’s decision regarding this proposal.
