{"id":172369,"date":"2024-09-30T14:25:02","date_gmt":"2024-09-30T14:25:02","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172369"},"modified":"2024-09-30T14:26:44","modified_gmt":"2024-09-30T14:26:44","slug":"ethereal-exchange-proposes-full-integration-with-ethena-new-onchain-trading-venue-backed-by-usde","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ethereal-exchange-proposes-full-integration-with-ethena-new-onchain-trading-venue-backed-by-usde\/","title":{"rendered":"Ethereal Exchange Proposes Full Integration with Ethena: New Onchain Trading Venue Backed by USDe"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\"><strong>Ethereal proposes an integration with the Ethena network<\/strong> to expand its ecosystem and improve onchain management.<\/li>\n<li style=\"text-align: justify\"><strong>A 15% allocation of Ethereal governance tokens<\/strong> is offered to ENA users.<\/li>\n<li style=\"text-align: justify\">The exchange aims to <strong>match the performance of centralized platforms<\/strong> while maintaining full user custody.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Ethereal<\/strong>, a <strong>decentralized spot and perpetual futures <a href=\"https:\/\/crypto-economy.com\/cex-vs-dex\/\" target=\"_blank\" rel=\"noopener\">exchange<\/a><\/strong>, has submitted a <a href=\"https:\/\/gov.ethenafoundation.com\/t\/introducing-ethereal-request-to-ethena-governance-on-integration\/154\/1\" target=\"_blank\" rel=\"noopener\"><strong>proposal<\/strong> <\/a>to <strong>Ethena<\/strong> governance for its integration. This proposal aims for the exchange to become <strong>part of Ethena\u2019s hedging engine and liquidity management<\/strong>, creating an onchain environment for the management of spot and derivative positions backing <strong>USDe<\/strong>.<!--more--><\/p>\n<p style=\"text-align: justify\">In the proposal, the exchange offers a <strong>15% allocation of governance tokens<\/strong> to ENA users. This measure seeks to align both communities and encourage active participation within the ecosystem.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A new proposal was made on Ethena governance a few hours ago<\/p>\n<p>Ethereal Exchange is requesting the community approval to launch a new spot and perpetual exchange built on USDe and integrated into the Ethena hedging engine and liquidity<\/p>\n<p>Their proposal includes a 15% commitment of\u2026<\/p>\n<p>&mdash; Ethena Labs (@ethena_labs) <a href=\"https:\/\/twitter.com\/ethena_labs\/status\/1840635070698455416?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 30, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><strong>Ethereal V1<\/strong>, whose testnet is expected in the fourth quarter, was built as an <strong>L3 EVM appchain<\/strong> that settles on the Ethena network. This architecture aims to match the performance of centralized exchanges while <strong>maintaining full user custody<\/strong>. Additionally, it will support advanced features such as <strong>cross-margin<\/strong>, liquidity automation, and wallet margin, all while processing <strong>1 million operations per second<\/strong> with sub-20 millisecond latency.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-161960\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/02\/ethena.jpg\" alt=\"Ethena Labs Launches USDe with 27.6% Yield and Worries the Crypto Community ethereal\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/02\/ethena.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/02\/ethena-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/02\/ethena-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2>Ethereal Requests Support for Integration with Ethena<\/h2>\n<p style=\"text-align: justify\">The exchange\u2019s main goal is to <strong>collaborate<\/strong> with the <strong>Ethena<\/strong> community to promote the growth and adoption of <strong>USDe<\/strong> within the <a href=\"https:\/\/crypto-economy.com\/defi-decentralized-finances\/\" target=\"_blank\" rel=\"noopener\"><strong>DeFi<\/strong> <\/a>ecosystem. The proposal also mentions the need for <strong>technical support<\/strong> to deploy <strong>Ethereal<\/strong> on the <strong>Ethena<\/strong> network, enabling the implementation of an integration with its hedging engine.<\/p>\n<p style=\"text-align: justify\">The benefits for the <strong>Ethena<\/strong> network include increased demand for <strong>USDe<\/strong>, <strong>improved decentralization<\/strong> of its onchain backing, and the creation of a precedent for <strong>future applications<\/strong> built on <strong>USDe<\/strong>. The exchange is positioned as a key piece in the expansion of the <strong>Ethena<\/strong> ecosystem, <strong>enhancing management and liquidity<\/strong> <strong>in decentralized platforms<\/strong>, and laying the foundation for financial innovation within the network.<\/p>\n<p style=\"text-align: justify\">A vote is expected to be launched soon for the <strong>Ethena<\/strong> community to decide whether to approve <strong>Ethereal\u2019s<\/strong> integration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Ethereal proposes an integration with the Ethena network to expand its ecosystem and improve onchain management. A 15% allocation of Ethereal governance tokens is offered to ENA users. The exchange aims to match the performance of centralized platforms while maintaining full user custody. Ethereal, a decentralized spot and perpetual futures exchange, has submitted a &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Ethereal Exchange Proposes Full Integration with Ethena: New Onchain Trading Venue Backed by USDe\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/ethereal-exchange-proposes-full-integration-with-ethena-new-onchain-trading-venue-backed-by-usde\/#more-172369\" aria-label=\"More on Ethereal Exchange Proposes Full Integration with Ethena: New Onchain Trading Venue Backed by USDe\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172370,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[111,84,74],"tags":[4620,4656,5287],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172369"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172369"}],"version-history":[{"count":2,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172369\/revisions"}],"predecessor-version":[{"id":172373,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172369\/revisions\/172373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172370"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}