The globally leading cryptocurrency exchange Huobi HTX announced today that it will soon launch the synthetic dollar USDe, introduced by Ethena, further providing global users with access to innovative on-chain financial infrastructure and continuously enriching the digital asset ecosystem of Huobi HTX. The launch of USDe highlights Huobi HTX's long-term commitment to supporting cutting-edge digital assets and providing global users with a secure and forward-looking entry point for DeFi innovations.
Huobi HTX Global Advisor Sun Yuchen stated, "At Huobi HTX, we are always focused on and exploring new models that push the boundaries of digital finance. USDe provides a new realization path for digital dollars—it is native to the crypto market and deeply integrated into the DeFi system. We are very pleased to collaborate with Ethena and bring this innovative asset to global Huobi HTX users."
Ethena and the USDe Ecosystem
The decentralized finance protocol Ethena is dedicated to building a crypto-native, scalable alternative to traditional dollar-denominated currencies. Its core product, USDe, aims to create a synthetic dollar that relies almost entirely on crypto assets rather than traditional banking systems or fiat reserves.
Unlike conventional stablecoins backed by cash or government securities, USDe is collateralized by crypto assets and achieves price stability through a delta-neutral hedging strategy. This mechanism offsets market price volatility risks by simultaneously holding spot crypto assets and corresponding short positions in derivatives, anchoring the value of USDe to the dollar.
The Operating Mechanism of USDe
The delta-neutral design of USDe distinguishes its operational logic from traditional stablecoins. Its stability does not rely on off-chain asset reserves but is based on on-chain collateral and risk hedging strategies in highly liquid derivatives markets. This structure allows USDe to fully integrate into the crypto ecosystem while effectively reducing directional market risks.
Unlocking New Opportunities for Huobi HTX Users
With the upcoming launch of USDe, Huobi HTX users will be able to deeply connect with the DeFi ecosystem's crypto-native dollar assets, which can be used for trading, asset allocation, and diversified investment strategies. Additionally, users can further explore on-chain application scenarios such as decentralized lending, liquidity provision, and yield optimization.
Moreover, Huobi HTX will later introduce yield features, allowing users to earn daily incentive rewards provided by the platform by holding USDe or using it as contract collateral, further enhancing capital efficiency and trading flexibility.
This integration further solidifies Huobi HTX's role as an important bridge connecting centralized trading infrastructure with decentralized financial innovations, enabling users to participate in next-generation DeFi financial tools within a familiar and trusted platform environment.
Elliot Parker, Chief Operating Officer of Ethena Labs, stated, "The collaboration between Huobi HTX and Ethena allows users to earn daily rewards while using USDe as contract collateral, which is an important step towards broader adoption of USDe and enables Huobi HTX users to experience a higher quality and more efficient form of digital currency, better supporting their trading needs."
Looking Ahead
By supporting USDe, Huobi HTX continues to solidify its leading position in the field of digital asset innovation. As centralized trading platforms and the DeFi ecosystem accelerate their integration, Huobi HTX will remain committed to providing users with high-quality assets, robust infrastructure, and next-generation financial tools, helping global users seize opportunities in the Web3 era.
More details regarding the launch time of USDe and related activities will be announced soon. Please stay tuned for further announcements from Huobi HTX.
About Huobi HTX
Founded in 2013, Huobi HTX has developed over 12 years from a cryptocurrency exchange into a comprehensive blockchain business ecosystem, covering digital asset trading, financial derivatives, research, investment, incubation, and other businesses.
As a global leader in the Web3 portal, Huobi HTX adheres to a development strategy of global expansion, ecological prosperity, wealth effect, and security compliance, providing comprehensive, safe, and reliable value and services for virtual currency enthusiasts worldwide.
For more information about Huobi HTX, please visit https://www.htx.com/ or HTX Square, and follow X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.
About Ethena
Ethena is a synthetic dollar protocol built on Ethereum, dedicated to providing the market with a crypto-native currency solution, USDe, as well as an asset sUSDe for global users that can be used for dollar savings.
Ethena's synthetic dollar USDe achieves its goal of being a crypto-native, scalable currency form by delta-hedging against Bitcoin, Ethereum, and other governance-approved spot assets. Specifically, this mechanism combines the use of perpetual contracts and futures contracts for hedging while holding high liquidity stablecoins, including USDC and USDT, to enhance overall stability and liquidity.
USDe is fully collateralized by assets (but note that certain specific events may lead to losses of supporting assets as described in the risk section) and can be freely combined and used within both centralized finance (CeFi) and decentralized finance (DeFi) ecosystems.
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