How Ethena is Redefining Digital Finance | Guy Young

Listen to this episode from 0xResearch on Spotify. In this episode, we’re joined by Guy Young , Founder at Ethena Labs, to discuss the rapid growth of USDe, the design of their new products like USDtb, and the launch of Converge and Ethereal. He shares insights on stablecoin infrastructure, institutional adoption, risk management, and Ethena’s broader vision to bridge DeFi with TradFi. Thanks for tuning in! As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice. -- Resources Converge Technical Specification & Roadmap: https://x.com/convergeonchain/status/1912853619038461967 -- Special thanks to our sponsor, dYdX! Stay up-to-date with DeFi’s Pro Trading Platform by following dYdX on X: https://x.com/dYdX -- Missed DAS? Join us from June 24th-June 26th at Permissionless IV! Use Code 0x10 at checkout for 10% off! Tickets: https://blockworks.co/event/permissionless-iv -- Follow Converge: https://x.com/convergeonchain Follow Ethereal: https://x.com/etherealdex Follow Guy: https://x.com/gdog97_ Follow Boccaccio: https://x.com/salveboccaccio Follow Blockworks Research: https://x.com/blockworksres Subscribe on YouTube: https://bit.ly/3foDS38 Subscribe on Apple: https://apple.co/3SNhUEt Subscribe on Spotify: https://spoti.fi/3NlP1hA Get top market insights and the latest in crypto news. Subscribe to the 0xResearch Newsletter: ⁠https://blockworks.co/newsletter/0xresearch Join the 0xResearch Telegram group: https://t.me/+z0H6y2bS-dllODVh -- Timestamps: (0:00) Introduction (1:45) Recent Product Launches (5:33) Asset Issuance on Converge (11:20) Scaling Ethena (13:12) Considering New Assets For Staking Yield (15:25) Dealing With Risk (17:34) USDtb's Place in the Ethena Ecosystem (21:52) Overview of Ethereal (24:47) Converge DApps (28:47) Credit Expansion and Associated Risks (31:34) dYdX Snippet (39:12) Will Ethereal Harm Relationships With Exchanges? (41:17) Protocols Hardcoding USDe to 1$ (44:25) USDe's Competition (46:10) The Biggest Risks to Ethena (48:14) The Fee Switch (52:18) Ethena's Focus Going Forward -- Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place Blockworks Research: https://www.blockworksresearch.com/ Free Daily Newsletter: https://blockworks.co/newsletter/0xresearch -- Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.