Can Ethena Win the Stablecoin Market in 2024? - Guy Young, Ethena Labs, Ep. 249

Stablecoins represent a significant segment of the cryptocurrency market due to their widespread applicability. So far, stablecoin models range from centralized, fiat-backed variants such as USDT and USDC, to more decentralized models like Maker's DAI, an over-collateralized stablecoin, and the infamous algorithmically-backed UST by Luna.

Despite this variety, the crypto industry still lacks a decentralized, internet-native stablecoin that combines attractive yet sustainable yields. Ethena aims to bridge this gap, offering a novel solution in the stablecoin space.

Today we have Guy Young, Founder of Ethena Labs, to share with us
- What exactly is Ethena’ stablecoin model, and how can it be sustainable
- Can Ethena dethrone USDC and USDT
- The future of the stablecoin landscape
- And more

Host: Jason Choi @mrjasonchoi . Not financial advice.


Timestamps:
(00:00:00) – Episode introduction
(00:02:08) – How Ethena was founded
(00:04:30) – How Ethena works & why now
(00:11:19) – Will USDT and USDC be dethroned one day
(00:13:55) – Ethena versus other stablecoins
(00:19:03) – Letting the markets do its job
(00:20:54) – Ethena versus Maker
(00:29:19) – Ethena’s value in blackswan events
(00:32:28) – Thoughts on staking staked ETH
(00:34:24) – 3 types of users likely to use Ethena
(00:36:29) – Why can’t someone do it themselves
(00:37:52) – Potential products built on Ethena
(00:41:04) – Ethena’s path to mass adoption


More Resources:
Guest
Guy Young’s Twitter: Twitter: leptokurtic_
Ethena’s Twitter: Twitter: ethena_labs


Blockcrunch
Blockcrunch VIP: https://blockcrunch.substack.com/
Blockcrunch Twitter: Twitter: theBlockcrunch
Jason Choi’s Twitter: Twitter: mrjasonchoi

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