Sui introduces suiUSDe digital dollar token backed by digital assets with Ethena's support
Key Takeaways
- Sui has introduced suiUSDe, a synthetic dollar stablecoin, on its blockchain.
- suiUSDe will be backed by digital assets paired with short futures positions, instead of traditional fiat reserves.
Sui, a layer 1 blockchain focused on high-performance DeFi applications, announced the upcoming launch of suiUSDe, a native synthetic dollar token backed by digital assets, in partnership with Ethena, the issuer of USDe.
The upcoming suiUSDe will function as a Sui-native income-generating asset powered by Ethena’s infrastructure. Its backing mechanism combines digital assets with corresponding short futures positions to generate yield without relying on traditional fiat reserves.
Revenue generated from suiUSDe will be directed toward purchasing additional SUI tokens, reinforcing the ecosystem through coordinated buybacks by the Sui Foundation and SUI Group.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
General-Purpose AI Versus Specialized Experts: The Pivotal Showdown in E-Commerce
- Perplexity AI and PayPal launch a free AI shopping tool enabling personalized searches and direct purchases from 5,000+ merchants via PayPal integration. - The tool challenges OpenAI's paid Instant Checkout by offering fee-free transactions, though Perplexity remains silent on monetization strategies. - Niche startups like Onton and Daydream argue vertical-specific AI models trained on curated datasets outperform generic tools in fashion and home goods markets. - Legal risks emerge as Perplexity faces Am
Bitcoin News Update: Bitcoin Drops 30% Amid ETF Withdrawals and Broader Economic Challenges
- Bitcoin fell nearly 30% from its October peak to $85,100 amid massive ETF outflows and macroeconomic pressures, with U.S. spot Bitcoin ETFs losing $3.79 billion in November alone. - BlackRock's iShares Bitcoin Trust (IBIT) led redemptions at $2.1 billion, while a stronger dollar and Fed policy uncertainty worsened selling pressure in risk-off markets. - Technical indicators show oversold conditions (RSI: 25.47), yet ARK Invest added $39 million to crypto-linked stocks, maintaining a long-term bullish sta
"Peaceful prospects push oil prices lower, yet Russia's firm position and ongoing attacks continue to unsettle markets"
- Oil prices fell sharply as U.S.-brokered peace talks between Ukraine and Russia raised hopes for lifting Western sanctions on Russian energy exports. - Zelenskiy's potential U.S. visit and revised peace plans contrast with Russia's unconfirmed acceptance and ongoing missile strikes on Kyiv. - Analysts warn of 2M bpd global oil surplus risks by 2026 if sanctions ease, with Russian oil stored in tankers threatening market rebalancing. - European gas prices dropped below €30/MWh while metals markets showed
Zcash News Today: Regulatory-Ready Privacy Fuels Zcash's Remarkable Surge
- Zcash (ZEC) surged to top Coinbase's November 2025 search rankings, outpacing Bitcoin and XRP amid a 10-fold price spike and $10B+ valuation. - The rise stems from 2024 halving-driven scarcity, 27% shielded transaction adoption, and NU6.1 governance upgrades allocating 20% block rewards to community development. - Regulatory clarity and optional privacy features (via view keys) positioned Zcash as a compliance-friendly alternative to fully opaque coins like Monero after its 2025 exploit. - Analysts debat
Trending news
MoreCrypto prices
More
