Ethena releases USDe circular loans, and it seems the market is very receptive. Within less than a day, the quota on a certain platform was filled up. This liquidity and risk aspect is better than PT. Compared to sUSDe, it can earn the same 12% yield, but there is no 7-day grace period. Trapping it 5 layers brings it close to a 50% APR, and the capacity is good. Currently, it can be considered a divine mine.

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