USDe supply on Jupiter Lend surpasses $50M

Solana-based decentralized exchange Jupiter (JUP) announced on its official X account that the supply of USDe on its lending platform, Jupiter Lend, has surpassed $50 million. Jupiter explained that users can increase their stablecoin deposit yields to over 20% by "looping" USDe—a process of repeated borrowing—on the platform's on-chain infrastructure. USDe is a dollar-pegged stablecoin issued by the synthetic dollar protocol Ethena (ENA). Jupiter previously announced the launch of a dedicated marketplace for Ethena on Jupiter Lend in collaboration with Bitwise.