Ethena Labs proposes adding SOL as USDe collateral

Ethena Labs, the developer of the USDe stablecoin, has proposed adding Solana (SOL) to its treasury collateral, CoinDesk reported. If approved, SOL will be gradually integrated as a collateral asset for USDe, with an initial allocation target of $100 million to $200 million in SOL positions. This would account for approximately 5% to 10% of SOL's open interest. In addition, the proposal also considers the likelihood of leveraging liquid staking tokens (LSTs) such as BNSOL and bbSOL. USDe is a crypto-backed synthetic stablecoin that maintains a soft peg to the U.S.dollar through delta-hedging of its underlying assets during minting.