Ethena Labs partners with Bybit to offer 20% annual yield for USDe holders on CEX

ChainCatcher news, Ethena Labs stated on social media that starting from August 2, all Bybit users can earn a 20% annual interest rate by simply holding USDe in their Bybit accounts or using USDe as collateral to participate in derivatives trading. The interest is paid daily, and rewards will be distributed by Bybit to users' funding accounts at 6 AM UTC every day, with no minimum holding requirement.

Ethena Labs indicated that this integration marks an important step for USDe being used as a stablecoin for CEX trading. It continues to create additional utility for USDe in both CeFi and DeFi, further challenging the existing stablecoin hegemony through products tailored specifically for crypto-native developers.