$ena Minting and Staking USDe
Minting USDe involves users requesting a price from the Ethena Pricing API and generating a signed order, which is then checked by Ethena's server. Once approved, the order is sent to the blockchain for execution, with the user receiving USDe tokens in return. Slippage management ensures that transaction outcomes are predictable, minimizing the risk of price discrepancies. This process, facilitated by Ethena's minting system, blends centralized and decentralized elements to ensure a high level of trustlessness.
Additionally, users can stake their USDe tokens to earn rewards. To do so, users transfer USDe into the StakedUSDe smart contract and receive staked USDe (sUSDe) tokens in return. Rewards accrue over time based on the protocol's generated yield, providing users with a passive income stream.
