The exchange will open trading with USDT and USDC pairs at 12:00 UTC, with deposits already live and withdrawals following a day later. Binance is waiving BNB fees for the launch to speed adoption.

Backed by BTC, ETH, and other stablecoins, USDe has grown into the largest non-fiat-backed digital dollar with a supply topping $12 billion in August – making it the third-largest stablecoin behind USDT and USDC.

ENA Fee Switch Activated

The listing carries big implications for Ethena’s governance token. With all prerequisites met – $6B supply, $250M revenue, and listings on top exchanges – Ethena can now activate its fee switch. This mechanism, highlighted by BitMEX co-founder Arthur Hayes, paves the way for up to $500M in ENA buybacks. ENA has already surged 8% to $0.83, its highest since January.

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Rewards and Ecosystem Expansion

Binance will also reward users holding at least 0.01 USDe, paying out a one-time September distribution followed by weekly rewards. Regional restrictions apply, excluding the U.S., EU, and several other jurisdictions.

Meanwhile, Ethena continues to expand its ecosystem through partnerships with Based in the Hyperliquid network, MegaETH’s launch of USDm, and treasury efforts by Stablecoin X. Together, these moves strengthen USDe’s adoption while adding depth to ENA’s utility.

Outlook

With USDe’s meteoric growth and ENA’s buyback engine now active, Ethena is positioning itself at the heart of DeFi’s next growth cycle, combining stablecoin dominance with tokenholder rewards.

The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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