USDe, the 12.3% Yielding Stablecoin, is Coming to Solana

TL;DR

• Ethena Labs is integrating with Solana — this kind of multi-chain approach allows for a more even playing field, where the tech speaks for itself.

Full Story

Picture this: you go to buy something online from a British retailer…

And even though the site lists its prices in your local currency (USD), the final transaction is quietly made using their local currency (GBP).

You throw your laptop at the wall in anger and go to Twitter to complain.

The narrative doesn’t add up, right? But for some reason in crypto, that kind of currency tribalism is totally accepted.

It’s dumb! Which is why we love to see stuff like this:

Ethena Labs — the makers of the Ethereum-based USDe stablecoin that earns a whopping 12.3% yield per year when it’s staked? Yuh, they’re now integrating with Solana — bringing greater optionality to us as users.

It’s a smart move. Cause if you study some of the more enduring projects of the previous bull run (e.g. WalletConnect, Thirdweb, Magic Eden…)

You’ll notice they all play nice with other technologies.

WalletConnect and Magic Eden integrate with a range of wallets from a range of chains, while Thirdweb makes it easy for web2 companies to adopt web3 payments (see: Shopify).

The takeaway:

Multi-chain integrations don’t leech from other crypto projects, they let users make a choice and pick the technology that will serve them best.

As a result, the cream rises to the top and the overall crypto pie continues to grow.

Making your job as an investor that much easier.

Cause you no longer have to figure out who is forcing their (potentially sub-par) technology on people with back door partnerships and zealous tribalism…

You just pick the best tech and call it a day.