UST and Terraform both chose to use BTC as a reserve asset before the defi project they were involved in crashed in May 2022. According to DefiLlama, Ethena Labs exclusively offered its U.S. dollar-pegged token on Ethereum’s mainnet. Despite efforts, experts were unable to identify the underlying vulnerability at that time. Despite this setback, Ethena Labs has proceeded with plans to expand integration of the USDe token.
Ethena Labs secures $250 million for USDeFRAX pool
