[Ethena Labs Founder: Still Believes USDe Pegged to USDT is Reasonable, No Downtime in Minting and Redemption During Market Turmoil] According to a report by Jinse Finance, the founder of Ethena Labs posted on the X platform, stating: The oracle attempts to identify two different scenarios—one being a temporary misalignment in secondary market prices, and the other being a permanent devaluation of collateral. The latter has never occurred with USDe, and the likelihood of such an event happening to most assets, including USDe, is much lower. Although the DeFi money market has been heavily criticized for USDe being pegged to USDT, it is indeed believed that this approach is reasonable, as it can prevent liquidations caused by temporary price imbalances. Ethena provides on-demand reserve proofs to a select group of entities, some of which are also oracle providers, including Chaos Labs and Chainlink. During this week's market turmoil, Ethena's minting and redemption functions experienced no downtime. Price misalignments occurred at major on-chain liquidity venues such as Curve, Uniswap, and Fluid. Over $9 billion in on-demand stablecoin collateral was available for immediate redemption, though actual usage accounted for only a small portion.