Bitget Expands Trading Horizons with USDe Stablecoin for Coin-Margined Contracts

Bitget, a prominent cryptocurrency exchange, and Web3 company is excited to announce the addition of Ethena Labs’ synthetic USDe as a margin option for coin-margined contracts. This new synthetic dollar will revolutionize trading options and offer users an incredibly versatile trading experience. Bitget offers a wide range of coin-margined futures, allowing traders to use multiple currencies as margins for over 230 futures trading pairs.

Ethena has introduced a new feature that allows users to easily create and redeem a stable and secure digital currency called USDe. This innovative system is fully backed, operates on the blockchain, and is designed to be scalable and resist censorship. The USDe mechanism allows the creation of the first “Internet Bond” that operates within the cryptocurrency world. This dollar-denominated bond instrument accrues value through staked asset returns and takes advantage of the funding and basis spread in perpetual and futures markets.

USDe has recently been added to Bitget’s margin options, expanding the range of coins available for trading. It now joins the ranks of BTC, ETH, USDC, XRP, BGB, and STETH. Bitget users can enjoy a multitude of benefits with the integration of USDe. It allows for a wider variety of trading strategies customized to meet the specific needs of individual traders. Utilizing USDe as a margin can potentially increase capital efficiency, optimizing the distribution of assets for better financial oversight. USDe offers users a stable and convenient trading environment, enhancing flexibility.

“At Bitget, we’re constantly delivering world-class trading resources to our users be it market insights, DeFi access or any other relevant trading-enhancing mechanism, we have it all! Just one year ago, USDe didn’t exist, yet it now holds approximately 3% of the supply in Stablecoins. This impressive growth demonstrates the potential of well-designed mechanisms, and we are excited to continue supporting and partnering with innovative crypto-native projects,” said Gracy Chen, CEO at Bitget.

Users must follow a straightforward process to use the USDe margin for coin-margined contracts on the Bitget platform. They can easily transfer their USDe funds to the coin-margined contract account and access the contract trading interface to choose coin-margined contracts. After choosing the currency pair, like BTCUSD, and selecting USDe as the margin, users can adjust leverage based on risk tolerance and trading strategy.

Based on market analysis, users can place various orders, such as buy/sell orders. Stay vigilant and keep a close eye on positions and market conditions. Utilize stop-loss and take-profit orders to manage risks and safeguard your positions effectively. Once the trade hits the desired profit or loss range, users can close the position at the current market price or a pre-set price limit.

Bitget is committed to constantly innovating and optimizing its services, ensuring users have efficient and accessible trading options. Bitget caters to the growing need for versatile derivatives products, allowing 25 million users to effectively manage and expand their investment portfolios by leveraging cutting-edge technologies like AI in trading.