Ethena USDe Price

Ethena USDe is a synthetic dollar asset designed to maintain a “soft peg” to the USD. This cryptocurrency functions by adopting a delta-hedging approach to stabilize its value, particularly during the minting process of the asset. Unlike centralized USD stablecoins that rely exclusively on fiat reserves, Ethena USDe is backed by crypto assets and derivatives, creating a system reminiscent of the well-known MakerDAO's DAI but with a different operational mechanism.

The protocol’s primary goal is to provide a censorship-resistant form of money that can seamlessly integrate into the DeFi ecosystem. This unique offering challenges the limitations of traditional banking systems (often referred to as TradFi), pushing towards a decentralized paradigm in which users can engage in financial activities without intermediaries.