So @JupiterExchange's JUPUSD is fundamentally based on USDE. The idea behind ETHENA is pretty solid. When it comes to the underlying protocol for stablecoins, the AUSD, BUSD, CUSD you see might all ultimately derive their yield from USDE—layer upon layer. Stablecoins currently dominate the market in three major segments, and USDE is one of them, while DAI has long been relegated to the dust of history.