{"id":22351,"date":"2023-07-18T08:11:02","date_gmt":"2023-07-18T08:11:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethena-raises-6-million-in-seed-funding-to-revolutionize-stablecoins-and-digital-savings-bonds\/"},"modified":"2023-07-18T08:11:02","modified_gmt":"2023-07-18T08:11:02","slug":"ethena-raises-6-million-in-seed-funding-to-revolutionize-stablecoins-and-digital-savings-bonds","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethena-raises-6-million-in-seed-funding-to-revolutionize-stablecoins-and-digital-savings-bonds\/","title":{"rendered":"Ethena Raises $6 Million in Seed Funding to Revolutionize Stablecoins and Digital Savings Bonds"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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A vibrant Portuguese business named Ethena has completed a successful seed investment round, obtaining $6 million to realize its ground-breaking initiatives. The money will allow Ethena to introduce an Ethereum-based stablecoin and a digital savings bond asset in the following quarter, under the direction of Dragonfly, a well-known venture capital firm with a focus on cryptocurrencies. Ethena\u2019s mission is gaining major support thanks to renowned supporters including BitMEX founder Arthur Hayes<\/strong><\/a> and his family office, Maelstrom, as well as well-known crypto derivatives exchanges like Deribit, Bybit, OKX,<\/strong><\/a> Gemini, and Huobi.<\/p>\n

Ethena\u2019s Innovative Stablecoin Solution<\/h2>\n

The development of a fully collateralized stablecoin that makes use of on-chain custody and settlement will be Ethena\u2019s main priority. This will revolutionize the stability issue that has plagued current stablecoin offers. Unlike its forerunners, Ethena\u2019s stablecoin will keep its peg to the US dollar thanks to a novel method that makes use of user-provided collateral to leverage perpetual swaps against Ethereum to hedge price risk. By balancing any gains or losses in either asset, this novel system hopes to maintain the stablecoin\u2019s constant value of $1. By giving access to savings and remittances denominated in USD, Ethena seeks to empower people all around the world.<\/p>\n

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Digital Savings Bonds<\/h2>\n

In addition to their pioneering stablecoin, Ethena is also developing a digitally-native savings bond, utilizing a bond token built on top of the stablecoin. This bond token functions similarly to a US Treasury bond, but without reliance on a government or centralized banking institution. This decentralized approach offers investors a unique opportunity to diversify their portfolios and explore new avenues of investment, all within a digital and secure environment.<\/p>\n

Dragonfly Voices Their Support<\/h2>\n

To Tom Schmidt, a general partner at Dragonfly, \u201cEthena is building the holy grail of stablecoins: a coin that is truly stable, decentralized, and capital-efficient.\u201d Schmidt stressed stablecoins\u2019 broad appeal once more. Stablecoins have been incredibly popular in recent years due to their usability for international savings and transfers. Existing stablecoins have, however, encountered difficulties with regard to capital efficiency, decentralization, and stability. With its ground-breaking architecture, Ethena addresses these problems head-on and promises considerable advantages for a wide user base. As a proud partner of Ethena, Dragonfly supports their mission to change the stablecoin environment.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) A vibrant Portuguese business named Ethena has completed a successful seed investment round, obtaining $6 million to realize its ground-breaking initiatives. The money will allow Ethena to introduce an Ethereum-based stablecoin and a digital savings bond asset in the following quarter, under the direction of Dragonfly, […]<\/p>\n","protected":false},"author":34,"featured_media":22352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22351"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22351"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22352"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}