Ethena Labs: Fully Collateralized Stable Coin That Can Deliver Double Digit Organic Crypto Native Yield

Guy Young joins Delphi Ventures' Yan Liberman to discuss Ethena’s novel approach to creating a stablecoin that is censorship-resistant, scalable, and yield-generating. We explore how Ethena achieves these goals through a crypto-native stablecoin called USDE that generates yield by collateralizing staked ETH and shorting ETH futures. The conversation provides unique insight into the mechanics and incentives underlying USDE's design. We also discuss second-order implications of the product ca...