#CreatorPad Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money that does not rely on traditional banking system infrastructure, alongside globally accessible dollar-denominated savings instruments - 'Internet Bond'.

Ethereum's synthetic dollar, USDe, will provide the first censorship-resistant, scalable, and stable crypto-native solution for money earned through staked Ethereum collateral with delta hedging. USDe will be fully transparently backed on-chain and free to compose across DeFi.

The stability of the USDe peg is ensured through the use of delta hedge derivative positions against the collateral held by the protocol. 'Internet Bond' will combine the yields earned from staked Ethereum as well as the funding spread & basis from the perpetual and futures markets, to create the first crypto-native on-chain 'bond' that can serve as a dollar-denominated savings instrument for users in permitted jurisdictions.