Ethena Founder: Anchoring USDe to USDT Is Reasonable, Minting and Redeeming Functions Did Not Go Down During Market Turbulence

BlockBeats News, October 12th, Ethena founder Guy Young tweeted, "Although the DeFi money market has been criticized for anchoring USDe to USDT, I believe this is the right approach to avoid user liquidations due to temporary price divergence. In every extreme event of the past two years, this decision has been proven to be correct."

"In this event, the minting and redemption functions of USDe worked well. The price deviation of multiple Curve, Fluid, and Uniswap liquidity pools with over a hundred million dollars in on-demand liquidity was less than 30 basis points, consistent with the USDC to USDT price deviation on Binance."