📌 In the last 24 hours, Ethena Labs collected operational fees higher than most major DeFi protocols… but why is this event important?
Let me simplify it 🔽
🔷 First… what is Ethena?
Ethena is a protocol that tries to create a new type of decentralized stablecoin called:
⭐ USDe — the synthetic dollar
Not supported by a bank…
Not tied to real deposits…
But based on a brilliant idea:
Hedging using futures contracts
To maintain stability without a central authority.
It means:
A fully decentralized dollar… relying on smart trading tools, not on banks.
🔷 So what does "Ethena ranked fourth globally" mean? This means one thing:
🔥 People are actually using the protocol… and intensively! Because daily fees are considered the strongest indicator of "real usage" for any DeFi project.
Not a trend
Not posts
Not promises
→ Actual usage within the protocol.
And in the last 24 hours, Ethena surpassed:
Massive protocols
Old projects
Platforms that have been in the market for years
And it reached a position among the Top 4 globally.
🔷 Why is this important news for the sector and not for the price?
Because it proves:
✔️ The product itself is in demand
USDe has started to transition from a "concept" to a "daily used tool".
✔️ The protocol is generating real income
And this reflects higher sustainability… not just the distribution of currency or artificial incentives.
✔️ A new trend in the world of DeFi
The community has started experimenting with synthetic currencies more than with traditional stablecoins.
🔷 Summary
This achievement is not just a ranking…
It is a clear message:
⭐ Ethena has begun to transition from a startup project → to a key player within DeFi.
💬 Discussion question
In your opinion… the future of stablecoins will be:
Centralized (like USDT)? Or decentralized (like USDe)?
Write your opinion 👇
