6.9 Stablecoins Ethena与FalconX推出10亿美元设施，以超额抵押机构贷款支持USDe，降低对加密资金费率的依赖，提升收益稳定性。
Ethena与FalconX合作建立了一个10亿美元的有担保仓储设施，旨在实现对Ethena USDe合成美元的资产多元化。该设施将USDe储备投入超额抵押的机构贷款，从而减少对波动性较大的永续合约资金费率的依赖。该安排通过破产隔离的特殊目的载体（SPV）运作，抵押品由合格托管方持有，FalconX负责贷款发起与服务。 截至2026年7月，机构贷款占USDe资产支持的6.9%，预期年化收益率在4%至7%之间，具体取决于机构需求和抵押品管理。此举标志着Ethena从专注于加密资金费率的策略，转向连接链上资本与传统信贷市场，为USDe持有者提供更稳定且多元化的收益。
FalconX and Ethena launch $1 billion institutional lending facility
FalconX, Ethena bring USDe backing assets into $1B institutional credit facility
FalconX and Ethena Launch $1B Facility to Expand Institutional Crypto Lending
Ethena, FalconX launch $1 billion USDe lending facility
Ethena Adds FalconX’s $1B Facility to Boost USDe Backing
Ethena secures a USD $1 billion credit line with FalconX to diversify the backing of USDe
Ethena’s $1B USDe Secured Warehouse Diversifies Yield Beyond Funding Rates
Ethena diversifies USDe backing with $1B FalconX credit facility
FalconX and Ethena Launch $1 Billion Warehouse Financing Facility
Beyond crypto funding rates: Ethena diversifies USDe backing with $1 billion FalconX facility
