TechFlow News, Ethena Labs has announced the launch of its Ethena Rewards Asset Proposal Mechanism, inviting institutions to apply for allocations supported by its $45 million reserve fund and approximately $250 million in USDe liquidity.
Securitize (BlackRock's BUIDL distributor) and SteakhouseFi have already submitted early applications. Proposed assets must be USD-denominated and yield-generating. Notably, BlackRock’s BUIDL fund, via its distributor Securitize, has applied for a $34 million reserve allocation from Ethena. According to the proposal, BUIDL requests $18 million in USDT and $15 million in DAI from Ethena’s $45 million reserve fund.
Meanwhile, Ethena has launched its Risk Committee governance framework, composed of leading industry professional risk advisory firms responsible for managing risks across the Ethena ecosystem. The committee's responsibilities include diversifying hedging venues, reviewing types of supporting assets, and evaluating new venues.
