Based has received a strategic investment from Ethena Labs to drive wider adoption of Ethena’s USDe stablecoin on Hyperliquid. Based, the largest builder codes platform generating nearly 7% of Hyperliquid’s perps volume, has just announced a strategic investment from Ethena…Based has received a strategic investment from Ethena Labs to drive wider adoption of Ethena’s USDe stablecoin on Hyperliquid. Based, the largest builder codes platform generating nearly 7% of Hyperliquid’s perps volume, has just announced a strategic investment from Ethena…

Ethena Labs invests in Based to drive USDe stablecoin adoption on Hyperliquid

2025/09/08 19:05

Based has received a strategic investment from Ethena Labs to drive wider adoption of Ethena’s USDe stablecoin on Hyperliquid.

Summary
  • Based contributes nearly 7% of Hyperliquid’s 24-hour perpetual futures volume and will use Ethena’s investment to scale the adoption of USDe stablecoin on its platform.
  • With a market capitalization of $12.8 billion, USDe ranks as the third-largest stablecoin, trailing only USDT and USDC.

Based, the largest builder codes platform generating nearly 7% of Hyperliquid’s perps volume, has just announced a strategic investment from Ethena Labs.

According to Based, the funds from Ethena are intended to accelerate the adoption of Ethena’s USDe stablecoin within the Hyperliquid ecosystem. “We think USDe can play a key role in the Hyperliquid ecosystem and want to be a conduit through which that can happen,” the team said in a post on X.

Ethena added that the partnership will position Based as a key partner for the adoption of not only USDe stablecoin, but also USDtb and other unreleased Ethena products on Hyperliquid.

Ethena’s USDe stablecoin gains traction

This announcement comes amid growing momentum for Ethena’s USDe stablecoin, which continues to see increasing adoption across a range of platforms and ecosystems. Recently, FalconX, a U.S.-based digital asset prime brokerage, integrated USDe into its offerings, enabling institutional clients to trade, custody, and use the stablecoin as collateral.

Alongside FalconX and Hyperliquid, USDe has recently been launched on the Telegram Open Network, making it accessible through Telegram’s built-in wallet as well as third-party TON wallets.

USDe market cap currently stands at $12.8 billion, making it the third-largest stablecoin by market capitalization behind USDT and USDC.

Market Opportunity
Ethena USDe Logo
Ethena USDe Price(USDE)
$0.9994
$0.9994$0.9994
0.00%
USD
Ethena USDe (USDE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025?

XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025?

The post XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025? appeared first on Coinpedia Fintech News The XRP price has come under enormous pressure
Share
CoinPedia2025/12/16 19:22
DMCC and Crypto.com Partner to Explore Blockchain Infrastructure for Physical Commodities

DMCC and Crypto.com Partner to Explore Blockchain Infrastructure for Physical Commodities

The Dubai Multi Commodities Centre and Crypto.com have announced a partnership to explore on-chain infrastructure for physical commodities including gold, energy, and agricultural products. The collaboration brings together one of the world's leading free trade zones with a global cryptocurrency exchange, signaling serious institutional interest in commodity tokenization.
Share
MEXC NEWS2025/12/16 20:46
Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be

Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be

The post Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be appeared on BitcoinEthereumNews.com. Jordan Love and the Green Bay Packers are off to a 2-0 start. Getty Images The Green Bay Packers are, once again, one of the NFL’s better teams. The Cleveland Browns are, once again, one of the league’s doormats. It’s why unbeaten Green Bay (2-0) is a 8-point favorite at winless Cleveland (0-2) Sunday according to betmgm.com. The money line is also Green Bay -500. Most expect this to be a Packers’ rout, and it very well could be. But Green Bay knows taking anyone in this league for granted can prove costly. “I think if you look at their roster, the paper, who they have on that team, what they can do, they got a lot of talent and things can turn around quickly for them,” Packers safety Xavier McKinney said. “We just got to kind of keep that in mind and know we not just walking into something and they just going to lay down. That’s not what they going to do.” The Browns certainly haven’t laid down on defense. Far from. Cleveland is allowing an NFL-best 191.5 yards per game. The Browns gave up 141 yards to Cincinnati in Week 1, including just seven in the second half, but still lost, 17-16. Cleveland has given up an NFL-best 45.5 rushing yards per game and just 2.1 rushing yards per attempt. “The biggest thing is our defensive line is much, much improved over last year and I think we’ve got back to our personality,” defensive coordinator Jim Schwartz said recently. “When we play our best, our D-line leads us there as our engine.” The Browns rank third in the league in passing defense, allowing just 146.0 yards per game. Cleveland has also gone 30 straight games without allowing a 300-yard passer, the longest active streak in the NFL.…
Share
BitcoinEthereumNews2025/09/18 00:41