Huobi HTX launches USDe minting and redemption services, and introduces daily rewards for USDe holders

Huobi HTX, a global leading cryptocurrency trading platform, announced today the official launch of USDe minting and redemption services, along with a reward mechanism for USDe holders, enabling global users to utilize USDe, a crypto-native dollar asset, in a more convenient and efficient manner. This move further demonstrates the platform's long-term commitment to creating a smooth, innovative, and user-centric digital asset service system.

Huobi HTX Global Advisor Sun Yuchen stated, "By directly integrating the minting and redemption functions of USDe into the Huobi HTX platform, we enable more users to conveniently use advanced on-chain financial tools. This not only reflects our ongoing support for technological innovation but also embodies Huobi HTX's core philosophy of continuously optimizing user experience."

USDe: A Synthetic Dollar Backed by Crypto Assets

USDe, launched by Ethena Labs, is a synthetic dollar asset designed for the crypto ecosystem, aiming to provide a crypto-native alternative to the traditional dollar-denominated system. Unlike traditional stablecoins that primarily rely on fiat reserves, USDe is backed by mainstream crypto assets such as Bitcoin and Ethereum, and maintains price stability through a Delta-Neutral mechanism.

Specifically, Ethena holds spot crypto assets while establishing corresponding hedging positions in the derivatives market to reduce risks from market volatility, ensuring that the value of USDe remains highly aligned with the dollar. This on-chain risk management structure allows USDe to maintain good compatibility and composability within both DeFi and CeFi ecosystems.

USDe Minting and Redemption Function Officially Launched on Huobi HTX

With the launch of the new feature, Huobi HTX users can now mint or redeem USDe directly on the platform through Ethena's smart contracts, without relying on the spot order book or over-the-counter trading.

This service offers the following advantages:

● Unlimited Scale: Minting and redemption are not limited by the amount;

● Unified Cost Structure: Fees for minting and redemption remain consistent across different scales;

● Higher Liquidity Efficiency: Users can smoothly enter and exit USDe, avoiding potential slippage or liquidity issues in the secondary market.

Through this integrated service, users can manage their USDe holdings more intuitively and efficiently, reducing operational complexity and enhancing the overall capital utilization experience.

USDe Holding Reward Mechanism and More Benefits

In addition to the minting and redemption services, users holding USDe in their Huobi HTX spot accounts can also receive daily rewards provided by the platform, distributed on a weekly basis.

This mechanism allows users to maintain exposure to dollar-denominated assets while earning passive income through holding, further enhancing capital efficiency.

At the same time, Huobi HTX has launched several USDe-related activities, including:

● Earning Coin Annual Bonus: Huobi Earn will soon launch a USDe savings product with an annual yield of up to 15%;

● Trading Carnival: From now until February 20, both new and existing users participating in USDe trading have the chance to share a prize pool of $10,000.

The diverse activity design further encourages users to engage deeply in the USDe ecosystem and gain more tangible returns through its application on the Huobi HTX platform.

Ethena Labs Chief Operating Officer Elliot Parker stated, "The launch of USDe minting and redemption functions on the Huobi HTX platform fully embodies our user-first product philosophy. This feature supports users of different sizes to complete USDe minting and redemption at any time, achieving atomic-level settlement. Huobi HTX's emphasis on user experience also provides a solid foundation for us to jointly promote a higher quality of cryptocurrency forms."

Adhering to a User-Centric Innovation Philosophy

With the comprehensive rollout of USDe minting, redemption, and holding reward mechanisms, Huobi HTX once again clarifies its core values of serving users through practical innovation. Through in-depth cooperation with Ethena, Huobi HTX continues to improve trading infrastructure, enhancing capital efficiency and liquidity experience while lowering the barriers for users to participate in complex on-chain financial mechanisms, ensuring overall operational safety and ease of use.

For a long time, Huobi HTX has been committed to supporting high-quality crypto-native assets and building an effective bridge between centralized trading platforms and the next generation of DeFi innovations. Through transparent product design, robust technical architecture, and continuous attention to real user needs, Huobi HTX is helping global users participate more efficiently in the ever-evolving digital asset ecosystem.

About Huobi HTX

Founded in 2013, Huobi HTX has evolved over 12 years from a cryptocurrency exchange into a comprehensive blockchain business ecosystem encompassing digital asset trading, financial derivatives, research, investment, incubation, and other services.

As a global leading Web3 portal, Huobi HTX adheres to a development strategy of global expansion, ecological prosperity, wealth effect, and security compliance, providing comprehensive, safe, and reliable value and services for virtual currency enthusiasts worldwide.

For more information about Huobi HTX, please visit the official website 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, dedicated to providing the market with a crypto-native currency solution, USDe, and an asset for global users that can be used for dollar savings, sUSDe.

Ethena's synthetic dollar USDe achieves its goal of being a crypto-native, scalable currency form through Delta hedging against Bitcoin, Ethereum, and other governance-approved spot assets. Specifically, this mechanism combines the use of perpetual contracts and futures contracts for hedging while holding high liquidity stablecoins, including USDC and USDT, to enhance overall stability and liquidity.

USDe is fully collateralized by assets (but note that certain specific events may lead to losses of supporting assets as described in the risk section) and can be freely combined and used within both centralized finance (CeFi) and decentralized finance (DeFi) ecosystems.