Ethena aims to boost USDe adoption through gas-free transactions on Ethereum and a 10x reward multiplier

BlockBeats News, January 14, Safe Foundation announced a strategic partnership with USDe issuer Ethena Labs, aiming to promote the use of the on-chain synthetic dollar USDe. According to the partnership, USDe transactions on the Ethereum mainnet will have reduced or even waived gas fees. Additionally, USDe stored in Safe multi-signature wallets will receive a 10x points boost under the Ethena points program.

Both parties stated that this collaboration is an important step in guiding the stablecoin economy towards a "self-custody track," and they hope to make Safe's self-custody wallet ecosystem the preferred entry point for Ethena products.

Data shows that currently about 6.6 billions USD worth of stablecoins are custodied by Safe multi-signature wallets, including 65.1 millions USD of sUSDe (the staked, yield-bearing version of USDe), which accounts for nearly 85% of Ethena assets held in Safe.