Ethena to Include Equity Perpetual Futures Basis in USDe Backing Assets

Ethena announced on August 28 that it will expand its USDe backing assets to include equity perpetual futures basis trades. The protocol noted that open interest for equity perpetual contracts across its integrated exchanges has grown over 10 times since March, exceeding $6 billion across approximately 200 contracts. With an average funding rate of 15% to 20% and near-zero correlation to crypto funding rates, Ethena expects real-world asset perpetuals to surpass crypto asset allocations in its backing portfolio within 12 to 24 months. Initial exchange partn