Navigating the Saturated Stablecoin Market

In this episode, we’re joined by Guy Young , Founder at Ethena Labs, to discuss the rapid growth of USDe, the design of their new products like USDtb, and the launch of Converge and Ethereal. He shares insights on stablecoin infrastructure, institutional adoption, risk management, and Ethena’s broader vision to bridge DeFi with TradFi.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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Resources

Converge Technical Specification & Roadmap: https://x.com/convergeonchain/status/1912853619038461967

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Arkham is a crypto exchange and a blockchain analytics platform. Arkham allows crypto traders and investors to look inside the wallets of the best traders, largest funds and most influential players in crypto, and then act on that information. 

Sign up to Arkham: https://auth.arkm.com/register?ref=blockworks 

Eligibility varies by jurisdiction. Users residing in certain jurisdictions will be excluded from onboarding. 

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Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

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Timestamps:

(0:00) Introduction

(1:41) Recent Product Launches

(5:29) Asset Issuance on Converge

(11:15) Ads (Arkham & Ledger)

(11:53) Scaling Ethena

(13:45) Considering New Assets For Staking Yield

(15:58) Dealing With Risk

(18:07) USDtb's Place in the Ethena Ecosystem

(22:21) Ads (Arkham & Ledger)

(23:30) Overview of Ethereal

(26:26) Converge DApps

(30:25) Credit Expansion and Associated Risks

(33:12) Ads (Desk & Morpho)

(34:07) Will Ethereal Harm Relationships With Exchanges?

(36:12) Protocols Hardcoding USDe to 1$

(39:20) USDe's Competition

(41:04) The Biggest Risks to Ethena

(43:08) The Fee Switch

(47:12) Ethena's Focus Going Forward

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.