Imagine a special kind of digital money called a stablecoin, which tries to always be worth one US dollar. One such stablecoin, USDe, had a bit of a scare recently! It briefly dropped in value because of worries about a big cryptocurrency exchange getting hacked.
But don't worry, Ethena Labs, the company behind USDe, quickly reassured everyone that everything was okay. They're using new technology to make sure the money backing USDe is safe and easy to see.
This new tech, from Chaos Labs, is like a super-powered watchdog that constantly checks if everything is alright. It makes sure USDe stays close to its one-dollar value.
- USDe is a type of digital money that aims to always be worth $1.
- It had a small dip in value due to a hack on a different crypto exchange.
- Ethena Labs added new security to make USDe safer and more transparent.
- This new tech checks the money backing USDe to make sure it's always there.
| Fact | Detail |
|---|---|
| USDe's lowest value | Around $0.98 |
| Amount secured by Chaos Labs tech | Over $70 billion |
