Huobi HTX, a leading global cryptocurrency exchange, today announced the upcoming listing of USDe, a synthetic US dollar launched by Ethena. This further enhances global users' access to innovative on-chain financial infrastructure and enriches Huobi HTX's digital asset ecosystem. The launch of USDe underscores Huobi HTX's long-term commitment to supporting cutting-edge digital assets and providing global users with a secure and forward-looking gateway to DeFi innovation.

Justin Sun, Global Advisor at Huobi HTX, stated, “At Huobi HTX, we have always focused on and explored new models that push the boundaries of digital finance. USDe provides a completely new path to realizing the digital dollar—it originates from the crypto market and is deeply integrated into the DeFi system. We are very pleased to partner with Ethena and bring this innovative asset to Huobi HTX users worldwide.”

Ethena and USDe ecosystem

The decentralized finance protocol Ethena aims to build a crypto-native, scalable alternative to the traditional US dollar-denominated currency. Its core product, USDe, is designed to create a synthetic dollar that is virtually independent of the traditional banking system or fiat currency reserves.

Unlike conventional stablecoins backed by cash or government securities, USDe is collateralized by crypto assets and achieves price stability through a Delta-neutral hedging strategy. This mechanism offsets market price volatility risk by simultaneously holding spot crypto assets and corresponding short positions in derivatives, ensuring that USDe's value is stably pegged to the US dollar.

USDe's operating mechanism

USDe's Delta-neutral design distinguishes it from traditional stablecoins in its operational logic. Its stability does not rely on off-chain asset reserves, but rather on on-chain collateral and risk hedging strategies in highly liquid derivatives markets. This structure allows USDe to fully integrate into the crypto ecosystem while effectively mitigating directional market risk.

Unlocking new opportunities for Huobi HTX users

With the upcoming launch of USDe, Huobi HTX users will be able to deeply connect to the DeFi ecosystem's native crypto USD assets, which can be used for trading, asset allocation, and diversified investment strategies. Simultaneously, users can further explore on-chain application scenarios such as decentralized lending, liquidity provision, and yield optimization.

In addition, Huobi HTX will launch a yield feature later, allowing users to receive daily incentives from the platform by holding USDe or using it as contract margin, further improving capital efficiency and trading flexibility.

This integration further solidifies Huobi HTX's role as a crucial bridge connecting centralized trading infrastructure with decentralized financial innovation, enabling users to participate in next-generation DeFi financial instruments within a familiar and trustworthy platform environment.

Elliot Parker, COO of Ethena Labs, said: "The partnership between Huobi HTX and Ethena allows users to earn daily rewards while using USDe as contract margin. This is an important step in promoting the wider adoption of USDe and allows Huobi HTX users to experience a higher quality and more efficient form of digital currency, thereby better supporting their trading needs."

Looking to the future

By supporting USDe, Huobi HTX continues to solidify its leading position in digital asset innovation. As centralized exchanges and the DeFi ecosystem accelerate their integration, Huobi HTX will continue to dedicate itself to providing users with high-quality assets, robust infrastructure, and next-generation financial tools, helping global users seize the opportunities of the Web3 era.

More details regarding the USDe launch date and related activities will be announced soon. Please stay tuned to Huobi HTX for further announcements.

Regarding Huobi HTX

Founded in 2013, Huobi HTX has evolved from a cryptocurrency exchange into a comprehensive blockchain business ecosystem after 12 years of development, covering digital asset trading, financial derivatives, research, investment, incubation and other businesses.

Huobi HTX, as a leading global Web3 portal, adheres to the development strategy of global expansion, ecosystem prosperity, wealth effect, and security and compliance, providing comprehensive, safe and reliable value and services to virtual currency enthusiasts around the world.

For more information about Huobi HTX, please visit https://www.htx.com/ or HTX Square , and follow us on X , Telegram , and Discord . For further inquiries, please contact glo-media@htx-inc.com .

About Ethena

Ethena is a synthetic dollar protocol built on Ethereum, aiming to provide the market with a crypto-native currency solution, USDe, and an asset, sUSDe, available to global users for dollar savings.

Ethena's synthetic dollar, USDe, aims to become a crypto-native, scalable form of currency by using Delta hedging against Bitcoin, Ethereum, and other governance-approved spot assets. Specifically, this mechanism combines hedging using perpetual and futures contracts while holding highly liquid stablecoins, including USDC and USDT, to enhance overall stability and liquidity.

USDe is a fully collateralized asset (but please note that as described in the risk section, certain events may result in the loss of the underlying assets), and can be freely combined and used in centralized finance (CeFi) and decentralized finance (DeFi) ecosystems.

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