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Leading cryptocurrency derivatives exchange Deribit announced the integration of synthetic dollar USDe, developed by Ethena Labs, as margin collateral. This innovation allows users to earn rewards by holding USDe and to use the asset as collateral in derivatives trading. The integration is expected to be active in the cross-margin pool by early January.
Increased Flexibility and Reward Opportunities with USDe
The integration of USDe into Deribit presents significant advantages for users. Ethena Labs stated that this move will create new product use cases in the cryptocurrency derivatives market. Guy Young remarked that accepting USDe as collateral on Deribit will enhance trading strategies for users in both traditional and cryptocurrency markets. Given Deribit’s 85% share in the global options market, this step is anticipated to accelerate USDe adoption.
USDe can also be used as collateral on other platforms like Bybit, Bitget, and Gate. This broadens the user base for USDe and allows users to earn additional income by holding USDe while implementing various exchange strategies. This innovation boosts the flexibility of the synthetic dollar and the advantages it offers to users.
ENA Price Increases by 20% and Future Expectations
Following the news of USDe’s integration into Deribit, Ethena Labs’ native token ENA increased by 20% in value over the last 24 hours. The trading price of ENA rose to $0.62, with trading volume also seeing a 78% increase. This development is believed to have heightened interest in ENA and strengthened market expectations.
Ethena Labs suggested strengthening USDe reserves with Solana 
$171 and liquid staked assets last month. The company also integrated with Aave to facilitate broader use of USDe, offering lending options and annual returns of up to 30%.
Deribit’s integration of USDe creates new opportunities for users while fostering a positive atmosphere in the markets. Experts predict that this innovation will lead to broader adoption in the cryptocurrency derivatives market. Deribit continues to work on the integration process, which is contingent on regulatory approvals.
