Ethena officially launched its USDe yield reserve expansion to real-world asset (RWA) perpetual basis trading on Binance on Friday. This move gives the protocol access to a $150 trillion market, compared to the current $2.5 trillion crypto market. Binance’s equity basis trade has averaged 11% returns over the past six months, nearly double the yields offered by short-term U.S. Treasury bonds. The basis trade share in USDe’s yield backing has risen from 1% during the June-July crypto winter to approximately 20%, while USDe’s current market supply stands at $4.8 billion. The native token ENA surged 105% over the past two weeks, rallying from $0.13 to $0.28.
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