Demex Daily #306: Ethena Launches BlackRock-Backed USDtb

What’s Interesting Today:

Ethena has launched USDtb, a stablecoin backed by BlackRock's tokenized money market fund BUIDL, to stabilize its yield-generating USDe token during bearish markets. USDtb holds 90% of its reserves in BUIDL, offering a lower-risk alternative within Ethena’s ecosystem. The protocol plans to get USDtb accepted as collateral on centralized exchanges and has applied for Sky’s $1 billion tokenized asset investment program. Ethena’s governance token ENA surged 25% after a $500,000 investment from Trump-affiliated World Liberty Financial, reflecting growing interest in the $6 billion DeFi protocol.

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The team behind the Ethereum farming game Pixels has launched a new spin-off, Pixel Dungeons, on the Ronin network. The game features dungeon-based combat where players can earn PIXEL tokens by mining, battling goblins, and sabotaging rivals. Developed with Crack and Stack, Pixel Dungeons introduces fast-paced gameplay with the potential for crypto rewards. This marks the first publishing deal for the Pixels team, which also recently soft-launched a Telegram game. The PIXEL token continues to drive monetization across the ecosystem, with 200,000 monthly active spenders. A closed beta for Pixel Dungeons began on December 16, 2024.

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