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Ethena Labs’ SOL Collateral Proposal for USDe Fuels 20% Price Spike in ENA
- Ethena (ENA) experienced a 22.55% price spike, reaching $0.4059.
- Ethena Labs proposed adding Solana (SOL) as collateral for its synthetic stablecoin, USDe.
- USDe is different from other stablecoins as it maintains its $1 peg through collateralizing stablecoins and a hedged trading strategy.
- The integration of SOL as collateral is pending approval from Ethena's Risk Committee.
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