If the proposal is approved by Ethena’s Risk Committee – which is independent of Ethena Labs – SOL will be gradually integrated as a collateral asset for USDe, with an initial allocation target of $100-200 million in SOL positions. This initial allocation would represent roughly 5-10% of SOL’s open interest, similar to its 3% stake in BTC’s global open interest and 9% in ETH.
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Sam Reynolds
https://www.coindesk.com/markets/2024/10/14/ethena-labs-proposes-sol-for-usdes-collateral/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
2024-10-14 05:00:16
