SYNTHETIC DOLLAR PROTOCOL ETHENA EXPANDS TO SOLANA, INCLUDES SOL AS BACKING ASSET

Summary from the TLDR Crypto newsletter

Ethena Labs expanded its synthetic dollar protocol, Ethena, to Solana to improve the scalability and stability of USDe. USDe aims to maintain a $1 peg and currently offers a 12.3% annual yield for staked assets. SOL will be used as a backing asset alongside other crypto, improving the financial strength of USDe and potentially unlocking billions in additional futures market interest.