Key Takeaways
- Sui has launched suiUSDe, an artificial greenback stablecoin, on its blockchain.
- suiUSDe can be backed by digital belongings paired with brief futures positions, as a substitute of conventional fiat reserves.
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Sui, a layer 1 blockchain centered on high-performance DeFi purposes, introduced the upcoming launch of suiUSDe, a local artificial greenback token backed by digital belongings, in partnership with Ethena, the issuer of USDe.
The upcoming suiUSDe will operate as a Sui-native income-generating asset powered by Ethena’s infrastructure. Its backing mechanism combines digital belongings with corresponding brief futures positions to generate yield with out counting on conventional fiat reserves.
Income generated from suiUSDe can be directed towards buying extra SUI tokens, reinforcing the ecosystem via coordinated buybacks by the Sui Basis and SUI Group.
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