Accelera Labs
8 posts
Accelera Labs
@AcceleraLabs
Converge Meets Acceleration. It's time to unlock the power of on-chain borrowing to global capital, soon on @ConvergeOnChain
Se unió Kasım 2024
127 Siguiendo136 Seguidores
... (Ethena Ecosystem Pt. 4)
➠ Converge Chain
Converge is the next frontier to expand @ethena USDe adoption, in a nutshell it is a high-performance, EVM-compatible PoS L1 partnering with @Securitize powered by USDe and $ENA
Seamlessly connecting permissionless DeFi with tokenized RWAs and permissioned finance.
You can check our previous post here for more technical information on Convergence ⟶
Several projects that are already building:
➢ @Terminal_fi → Institutional-grade DEX for RWAs + reward-bearing dollars.
➢ @strata_money → On-chain tranching for structured yield exposure.
➢ @etherealdex → Spot + perp DEX with CEX speed + onchain security.
➢ @AcceleraLabs → Unlocking global onchain borrowing.
...
Ethena isn’t another stablecoin experiment.
With a TVL of $11.7 billion, it is already seeing significant adoption, positioning itself as a fundamental DeFi-native settlement layer.
Eli5DeFi@Eli5defi
.@ethena has made waves by unveiling @convergeonchain. What's it all about, and why does it matter for the future of finance? Let's explore 🧵 ... — 📌 Converge: New Frontier of Finance Ethena Converge is a high-performance, special-purpose, Layer-1 EVM-compatible PoS blockchain created by Ethena Labs in partnership with @Securitize—a leading protocol in tokenizing real-world assets (RWA). In Converge, $sENA and $USDe are the core assets. $sENA is the stakeable asset for Converge permissioned validator system and securing the network. $USDe serves as the native gas token for easier transactions, alongside other digital dollars like $USDtb from Securitize. ... — 📌 Why Converge? At $100 billion, DeFi's TVL is just a small fraction of the massive $190 trillion fixed income market, which holds the title as the largest liquid asset class globally. To cross the chasm, DeFi needs next wave of capital that come from institutional investors. The challenge lies in the scant robust infrastructure needed to attract larger capital investments. Ethena, a top contender in the stablecoin arena, teams up with Securitize, renowned for collaborations with finance giants like @BlackRock, @KKR_co, @Hamilton_Lane, and @apolloglobal. Together, they're forging Converge to answer all the challenges. Converge is creating infrastructure that provide institutional-grade services for TradFi settlement layer, aiming to redefine the relationship between TradFi and DeFi, potentially unlocking multibillions in capital flows. ... — 📌 How it Works Converge plans to support both permissionless DeFi protocols (open to all users) and permissioned systems (restricted for compliance or institutional use) within same blockspaces. ✦ Fully Permissionless Converge will built a fully permissionless ecosystem and seamlessly integrated with prominent DeFi applications such as @aave, @pendle_fi, and other newly incubated Ethena projects such as @etherealdex ✦ Permissioned TradFi can seamlessly connect with KYC/KYB-approved entities using Ethena's $iUSDe and $USDtb on tailored platforms, for the first cohort there will be Aave Horizon, Pendle Institution, @MorphoLabs and @maplefinance This hybrid approach caters to retail DeFi enthusiasts and regulated institutional players to coexist together. But that doesn't inhibit innovation, Securitize tokenized assets and securities allows for creation of tokenized single name security, private equities, and many more with institutional-grade custodians for undelrying assets. ... — 📌 The Outlook Will Converge drive institutional adoption? It has potential. The design addresses key barriers—regulatory clarity and robust infrastructure—that have kept TradFi hesitant about DeFi. By offering a space where institutions can use stablecoins like $USDe and $USDtb (already top players in the stablecoin market) and interact with tokenized assets like equities or credit funds, it could pull in firms looking to dip into DeFi’s efficiency without the wild west vibe of fully permissionless chains. The ENA token’s staking mechanism and gas usage of USDe/USDtb also tie economic incentives to institutional participation, which might appeal to profit-driven entities. If Converge delivers on its promise of seamless TradFi-DeFi integration, it could capture a chunk of the growing RWA market—forecasts like McKinsey’s $2 trillion tokenized asset market by 2030 suggest there’s real demand. — Reference 📚 > @leptokurtic_ - Explaining Converge x.com/leptokurtic_/s… > Ethena Official Announcement x.com/ethena_labs/st…
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➥ Why Ethena Could Become DeFi's Settlement Layer
When your stablecoin relies on centralized banks, it can't truly be considered "decentralized."
That's why @ethena USDe is different.
USDe is built as a crypto-native, yield-bearing synthetic dollar designed to scale without relying on traditional banking infrastructure.
Today, we'll discuss $USDe and explore the expansive Ethena ecosystem.
Let's dive in 🧵
...
➠ How Ethena's $USDe works
At the core of PayBuddy is $USDe, a synthetic dollar built on crypto rails, consisting of the following main tokens:
➢ USDe: A stable synthetic dollar.
➢ $sUSDe: A liquid, yield-bearing, staked version of USDe.
➢ $ENA & $sENA: Native governance tokens of PayBuddy.
Here’s how it works, step by step:
➤ Collateral: Users deposit staked $ETH (like stETH).
➤ Hedge: Ethena opens an equal short position in $ETH perpetual futures.
➢ If the ETH price goes up, the short loses.
➢ If the ETH price goes down, the short wins.
➢ Net effect → ETH price risk is hedged.
➤ Yield:
➢ The staked ETH keeps earning staking rewards.
➢ The perp hedge earns (or pays)from funding rates.
Unlike $USDC/ $USDT, which depend on banks and treasuries, $USDe is fully crypto-native, built onchain, scalable, and independent of traditional finance.
...
➠ Ethena Ecosystem
Ethena already expand its $USDe integration to 50+ protocols:
➤ CEX
@binance
@bitgetglobal
@BithumbOfficial
@Bybit_Official
@coinbase
@CoinList
@DeribitOfficial
@Gate
@Gemini
@HTX_Global
@krakenfx
@kucoincom
@MEXC_Official
@wallet
@upbitglobal
➤ Money Markets
@aave
@ajnafi
@Contango_xyz
@eulerfinance
@evaaprotocol
@GearboxProtocol
@InitCapital_
@Juice_Finance
@KaminoFinance
@lendlexyz
@MorphoLabs
@NotionalFinance
@Orbiter_Finance
@origami_fi
@ParticleNtwrk
@sparkdotfi
@VenusProtocol
➤ DEXs
@Balancer
@CamelotDEX
@CurveFinance
@dedust_io
@derivexyz
@DriftProtocol
@infinex
@MerchantMoe_xyz
@orca_so
@RaydiumProtocol
@StargateFinance
@ston_fi
@synthetix
@Uniswap
(Cont'd...)
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Liquity v1 proved the demand for a stablecoin protocol built on immutable, governance-free contracts.
Now, @LiquityProtocol v2 is bridging that model to more chains. ⛓️
9 forks are live across 7 chains, giving users fresh collateral options. Here’s how they are shaping up.
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QME
number of new defi protocols building on ethena is nuts
just in last few weeks:
@infinifilabs
@Terminal_fi
@strata_money
@neutrl
@etherealdex soon
all high quality as well
this is the only way to grow a stablecoin to tether/circle size imo
Ethena@ethena
Excited to share @neutrl has chosen USDe as the core asset within their basis strategies Neutrl is bringing institutional-grade, market-neutral strategies onchain by combining OTC deal flow with basis trading via USDe to create accessible, crypto-native yield Learn more below 👇🏻
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"Tokenized assets need predictable, liquid, and composable yield rails."
They also needs predictable borrowing 👀
PTs & Ethena have been the most in demand yield product.
This is why we're excited about @AcceleraLabs as it will enable fixed-rate borrowing from PTs. We'll look back in a few years and wonder why variable rate borrowing was so popular.
Converge@convergeonchain
⚡@pendle_fi is joining Converge. One of DeFi’s biggest success stories, growing from lows of under $10 million TVL to over $5 billion in just two years. 📈 We’re excited to be bringing Pendle to Converge as one of our core apps to unlock yield trading on a range of dollarized assets. Here’s what this means 👇
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@Satsyxbt demand for stable plays confirmed w Plasma and Circle IPO
Converge is Next
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Institutions are coming onchain.
And now, they have their own settlement layer.
Here's what you need to know about Converge – the new *Orbit chain* from @ethena and @Securitize 🧵
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