Ethena ile Binance İş Birliğiyle USDe Bazlı Bazı Trade’ler Hisse Perpetual Sözleşmelerine Taşınıyor

Kısaca

Ethena ve Binance, tokenize hisse teminatıyla USDe bazlı delta-nötr ticareti hisse perpetual sözleşmelerine taşıyor; adreslenebilir piyasa $150 trilyon barajını hedefliyor. Hisse perpetuals için gerekli likidite ve regülasyon çerçevesi Ethena Risk Komitesi tarafından onaylandı. Bu genişleme yatırımcılar için yeni getiriler ve riskler sunarken risk yönetiminde ADL gibi özellikleri öne çıkarıyor.

Ana mesele

Ethena, Binance ile iş birliği yaparak USDe delta-nötr ticaretini hisse perpetual sözleşmelerine taşıyor

Ne değişti?

Güçlü teminat olarak tokenize hisse kullanımıyla dağıtılmış piyasa genişliyor

Beni nasıl etkiler?

Okuyucuya, kurumsal ticaret hacmi ve risk yönetiminde yeni olanaklar ile potansiyel getiriler hakkında fikir veriyor

Ne oldu?

Ethena, Binance ile iş birliği yaparak USDe bazlı delta-nötr stratejisini hisse perpetuals’a taşıdı.

Neden şimdi?

Piyasalarda tokenized varlıklar ve hacim büyüyor; risk yönetimi odaklı delta-nötr stratejiler ön plana çıkıyor.

Neden önemli?

Genişleyen teminat pazarı ve yeni araçlar, yatırımcı için çeşitlendirme ile potansiyel getirileri artırabilir.

Kimler etkileniyor?

• Büyük yatırımcılar
• Piyasa yapıcılar

Sektör ve piyasa etkisi

Hisse perpetual sözleşmeleri ve tokenize varlıklar ekosisteminde likidite artışı olası

Riskler

• Regülasyon belirsizliği
• İmaj ve operasyonel riskler
• Piyasa dalgalanmalarına duyarlılık

Takip edilmesi gerekenler

• Ortaklık kapsamı ve onay süreçleri
• Perpetual sözleşmelerin likidite durumu
• ADL ve diğer risk yönetimi önlemlerinin uygulanması
• Tokenize hisse portföyleriyle ilgili mevzuat gelişmeleri

Haberin tamamı

Ethena is partnering with Binance as its first venue to expand the USDe basis trade into equity perpetuals using tokenized stocks as collateral.The move expands the addressable collateral market from $2.5 trillion in crypto assets to over $150 trillion in public equities.ENA is up 16% following the announcement.Ethena (ENA) Labs announced Friday it partnered with Binance to expand its USDe delta-neutral trading strategy into equity perpetuals.Ethena partners with Binance equity markets to expand basis trading strategyBinance will serve as Ethena’s first venue for equity perpetuals. Under the partnership, the company will hedge bStocks — tokenized shares of publicly listed companies — with USDT-denominated equity perpetual futures on Binance.The structure follows the same market-neutral approach Ethena has used in crypto markets. The protocol holds the spot asset while taking an offsetting perpetual futures position, allowing it to capture funding payments from leveraged traders while limiting exposure to the underlying asset’s price movements.The protocol said the expansion could increase the addressable market for its underlying collateral from roughly $2.5 trillion in crypto assets to more than $150 trillion in real-world assets.Binance provides lower Auto-Deleveraging (ADL) priority for eligible delta-neutral accounts, including Ethena’s, which it considers an additional risk-management feature for the strategy.According to Ethena, equity perpetual funding rates on Binance have averaged more than 11% annualized over the past six months. Open interest in the market has also increased by roughly 30% per month over the past quarter.The expansion follows a review by Ethena’s Risk Committee, which assessed the liquidity and market structure of tokenized equity perpetuals before approving the strategy.Under the framework, an equity perpetual must maintain at least $25 million in one-sided open interest on a 14-day average and have at least 30 days of funding-rate history. The underlying asset must also be a publicly-listed security and cannot be a leveraged or inverse product.Ethena’s screening process approved 17 assets from Binance’s 64 matched pairs. The list includes major publicly-traded companies such as Nvidia, Tesla, Apple, Meta Platforms, Alphabet and Intel, as well as selected exchange-traded funds (ETFs).The Risk Committee approved bStocks as the strategy's primary spot instrument, subject to a side agreement covering custody, corporate actions and dividend treatment.The protocol also plans to maintain transparency around the new collateral strategy. Its existing dashboards will continue to provide line-by-line details of USDe’s collateral composition, allowing users to monitor how assets backing the synthetic dollar are allocated.ENA is trading at $0.256, up 16% in the past 24 hours and 90% over the past month at the time of writing.

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Kaynaklar

• FXStreet