Ethena Proposes Up to $1B SAFO Fund Allocation for USDe Backing
- —Proposed allocations: up to $500M by end-2026 and up to $1B in 2027
- —SAFO is built by Spiko and Amundi (over €2.2T AUM), with BNP Paribas as swap counterparty
- —USDe market capitalization exceeds $6 billion
- —No allocation approved yet; the proposal is open for discussion on Ethena's governance forum
Why it matters: Approval would cut USDe's reliance on crypto-native collateral and strengthen its appeal to institutional holders.
Source: TronWeekly