Victoria, Seychelles, March 5th, 2024, Chainwire

Ethena, a synthetic dollar protocol built on Ethereum, has officially integrated support for Bitget Wallet on its platform. This integration enables users to access Ethena through the Bitget Wallet browser extension and mobile app, facilitating token transactions, exchanging USDe, staking for interest, and participating in shard campaigns.

Ethena offers a crypto-native solution for currency without relying on traditional banking infrastructure. It also provides a globally accessible dollar-denominated savings instrument known as the ‘Internet Bond.

Alvin Kan, COO of Bitget Wallet, shared his insights on the collaboration: “Ethena has gained significant market recognition and attention, and we are delighted to partner with such a high-caliber project. This partnership aligns with our mission to provide users with access to foundational Web3 infrastructure services, offering a wealth of assets and opportunities to engage with the ecosystem. We are committed to enhancing the user experience and broadening the scope of possibilities for our users in the decentralized space.”

Guy Young, CEO and Founder of Ethena Labs, commented, “We are thrilled to integrate with Bitget Wallet on our platform. Bitget have been a core part of our protocol’s hedging strategy and they have a proven track record in providing key Web3 infrastructure, as demonstrated by Bitget Wallet.”

Furthermore, Ethena has been added to the DApp section of Bitget Wallet, allowing users to easily search for and access it on Ethereum network. With support for over 100 blockchains, Bitget Wallet delivers extensive Web3 services across various sectors. The wallet’s integrated DApp Browser boasts access to over 20,000 DApps spanning DeFi, GameFi, NFT, Bridge, Exchange, Mining, Tools, Social, and Loans. This integration simplifies the process for users to switch mainnets within their preferred DApps and keeps them informed about the latest and trending DApps with the dynamic “Hot Searches” feature, enhancing the overall user experience in the evolving digital asset landscape.

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

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Ethena’s synthetic dollar, USDe, will provide the first censorship-resistant, scalable, and crypto-native solution for money achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently on-chain and free to compose throughout DeFi.

USDe peg stability is supported through the use of delta hedging derivatives positions against protocol-held collateral.

The ‘Internet Bond’ will combine yield derived from staked Ethereum as well as the funding & basis spread from perpetual and futures’ markets, to create the first on-chain crypto-native ‘bond’ that can function as a dollar-denominated savings instrument for users in permitted jurisdictions.

Contact

Rachel Cheung
[email protected]

The post Synthetic Dollar Protocol Ethena Enhances Connectivity with Bitget Wallet Integration appeared first on CoinJournal.

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