The USDe token, which is referred to as a “synthetic dollar,” offers yields to investors by pairing ether liquid staking tokens with short ether (ETH) perpetual futures position in the derivatives market to maintain a “rough target” of $1 price.
![Ethena Labs’ ENA Token Goes Live, Starts Trading at 64 Cents Ethena Labs’ ENA Token Goes Live, Starts Trading at 64 Cents](https://www.coindesk.com/resizer/AAobJ1BlKJ4Oxgy2rddwfe0vmlE=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CVUXA45HQVGPHBGAAJ3PQ4YAZU.jpeg)
The USDe token, which is referred to as a “synthetic dollar,” offers yields to investors by pairing ether liquid staking tokens with short ether (ETH) perpetual futures position in the derivatives market to maintain a “rough target” of $1 price.