POPA ReconEthena Brings USDe Basis Trade to Binance Stocks
Ethena Brings USDe Basis Trade to Binance Stocks Ethena partnered with Binance as the first venue for extending the USDe basis trade into equity perpetuals, with allocations starting today. The structure mirrors what Ethena has run on crypto since launch. Binance bStocks, tokenized stocks issued by BTech Holdings that can be converted into the underlying shares on Binance, serve as spot collateral, hedged with Binance USDT-denominated equity perpetuals to keep the position delta-neutral. Binance also gives eligible delta-neutral accounts, including Ethena's, lower auto-deleveraging (ADL) pri…
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