Is Ethena’s product market fit weakening?
Ethena (ENA)
Ethena USDtb - Protocol Analytics
Explore Ethena USDtb, a Protocol with $288,195,116.33 in total value locked (TVL). Get real-time metrics, charts, and insights. Data from DefiLlama.
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About Ethena USDtb
USDTβ is Ethena’s synthetic USDT exposure that mirrors Tether’s price but sources collateral from delta‑neutral perps instead of treasury bills. The product offers a higher yield than USDe because it harvests the positive funding differential between USDT and USDC perpetual markets. USDTβ supply is capped at $1 billion until a full audit of reserve accounting completes.
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Blockchains supporting Ethena USDtb
| Blockchain | TVL | 24h | 7d |
|---|---|---|---|
 ETEthereum | $49,451,104,002 | +0.34% | +18.87% |