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Ethena

<p><strong>Key Points:</strong></p>  
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 <li><em>Ethena and Securitize submitted a proposal for Spark's Tokenization Grand Prix, competing for up to $1 billion in liquidity with their USDtb stablecoin.</em></li>  
 <li><em>The Ethena stablecoin USDtb will be over 90% backed by BlackRock’s BUIDL, surpassing reserve allocations of most stablecoins.</em></li> 
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<h5 class="wp-block-heading">Ethena and Securitize have <a href="https://x.com/ethena_labs/status/1862512052017012886" target="_blank" rel="noopener noreferrer nofollow">submitted</a> a joint proposal to participate in the Tokenization Grand Prix of the Spark platform for the introduction of the USDtb stablecoin.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/On-Black-43.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/On-Black-43-1024x576.jpg" alt="Ethena Stablecoin USDtb Joins the Competition for $1B Tokenization Prize" class="wp-image-294478"></a>
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<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/286260-senator-lummis-urges-bitcoin-reserve/" target="_blank" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/291778-bitwise-aptos-staking-etp-will-be-launched/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/294289-bitcoin-futures-open-interest-surges-past-60b/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/290339-robinhood-crypto-eu-now-supports-pepe-transfers/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/256598-ethena-labs-partners-with-swell-l2/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/wp-admin/post.php?post=256598&amp;action=edit" rel="noopener noreferrer nofollow">Ethena Labs Partners with Swell L2 for Rapid Transactions</a>&nbsp;</p>  
<h2 class="wp-block-heading" id="ethena-and-securitize-vie-for-1-billion-in-tokenization-grand-prix">Ethena and Securitize Vie for $1 Billion in Tokenization Grand Prix</h2>  
<p><a href="https://coincu.com/284619-ethena-stablecoin-ustb-launched/" target="_blank" rel="noopener noreferrer nofollow">Ethena stablecoin USDtb</a> will be predominantly collateralized by BlackRock's USD Institutional Digital Liquidity Fund, <a href="https://coincu.com/292010-blackrock-buidl-fund-expanded-to-new-blockchains/" target="_blank" rel="noopener noreferrer nofollow">BUIDL</a>, with more than 90% of its reserves invested in the tokenized fund. Ethena said this reserve allocation is more than what many other stablecoin issuers maintain.</p>  
<p>The Tokenization Grand Prix, introduced by Spark—a lending protocol based on Sky—provides real-world asset issuers with the opportunity to gain as much as $1 billion in liquidity.</p>  
<p>Applications for the competition opened on August 12, 2024, after the announcement in June. Spark is part of the Sky ecosystem, which rebranded from <a href="https://coincu.com/213026-makerdao-supercharges-rwa-assets/" target="_blank" rel="noopener noreferrer nofollow">MakerDAO</a> and replaced its stablecoin DAI with USDS.</p>  
<h2 class="wp-block-heading" id="ethena-stablecoin-usdtb-combines-stability-with-high-reserve-allocation">Ethena Stablecoin USDtb Combines Stability with High Reserve Allocation</h2>  
<p>Ethena's proposal includes a swap facility for USDtb and <a href="https://coincu.com/261333-ethena-usde-custodian-skyrocketing-asset-value/" target="_blank" rel="noopener noreferrer nofollow">USDe</a> to let the Sky ecosystem dynamically manage allocations based on fluctuating interest rates.</p>  
<p>The Ethena stablecoin USDtb operates similarly to traditional stablecoins but features additional yield-generating mechanisms. Users can lock ETH or ETH liquid staking tokens to issue USDe, benefiting from ETH staking interest and funding rate futures.</p>  
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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Ethena Stablecoin USDtb Joins the Competition for $1B Tokenization Prize

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