According to the data, eight weeks after the advent of Robinwood Chain, USDe, a stable currency issued by Ethena, has exceeded $320 million on the chain. According to Token Terminal, this figure represents approximately 42 per cent of the total supply of stable currency for the network.
USDe to main external dollar assets
In the Robinwood Chain ecology, USDE has become the largest external dollar asset after the USDG of the chain. This means that, in addition to the original stable currency, USDe already occupies a higher share of the network ' s dollar liquidity.
Robinwood Earlen-led demand
The growth of USDe is related to Ethena's taking on the main collateral issuer role in Robinwood Earth. As the use of related products increases, so does the demand for USDE in the chain, which drives its supply to expand in a relatively short period of time.
Liquidity into Morpho market
The article mentions that about 62 to 65 per cent of Steakhouse USDG Vault's liquidity flows to the USDe/USDG Morpho market. This shows that lending and liquidity allocation around USDE and USDG has become an important component of the Robinwood Chain stabilization currency activity.