Run-rate projections show scenarios ranging from 2 to 30 percent APR on staked ENA.
Liam 'Akiba' Wright 5 min read 
Ethena Labs congratulates Native Markets as withdrawal from USDH contest clears the path for competitors.
Binance listing positions Ethena's USDe as a major player withing the rapidly expanding stablecoin market.
Ethena is committed to returning 95% of net revenue generated from USDH reserves directly to the Hyperliquid community through HYPE token purchases.
The Ethena (ENA) token surged over 12% after StablecoinX announced a $530 million capital raise and expanded its holdings.
Hayes projects a total stablecoin circulation of $10 trillion by 2028, and three protocols are poised for a "secular rise" in this scenario.
By adding high-liquidity tokens as collateral, Ethena Labs aims to minimize risks and boost USDe stability.
USDe has become the fastest-growing stablecoin, reaching $10 billion in TVL in 500 days after the GENIUS Act banned most stablecoin yields.
USDe's $3.1B influx raises questions about stability amid historic fiat dominance.
