Ethena launches $1B institutional lending program using USDe collateral

Ethena is building a $1 billion collateralized lending program with crypto prime broker FalconX, according to CoinDesk. Through the program, Ethena plans to use USDe collateral for overcollateralized institutional credit loans, a move it said will diversify the protocol’s revenue sources and offset weaker profitability from its delta-neutral strategy that relies on perpetual futures funding rates.