Ethena's SaaS stack is gaining traction🔥
> Protocols can create their own whitelabel stablecoin using @ethena_labs' infra
> Customize backing btw USDe & USDtb (which uses BlackRock's BUIDL fund)
> No need to build the entire stack themselves
This move by Jupiter gives the solana eco its own native stable money supply for DeFi. Less dependency on bridged assets, more control over the monetary layer.
USDm on Mega, suiUSDe & USDi on Sui, now JupUSD on Jupiter. Each new stablecoin creates more utility & potential sink demand for the underlying infra.
This shows how good Ethena is!
Introducing JupUSD: the native stablecoin of the @JupiterExchange ecosystem built on Ethena's Stablecoin-as-a-Service stack.
JupUSD will plug into every major part of the Jupiter stack, including:
- Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be replaced by JupUSD
- Jupiter Lend as the cornerstone lending asset
Excited to be partnering with one of the best teams on Solana.
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