TechFlow reported on September 30, according to The Block, that the Ethena community is discussing a key proposal to build a decentralized exchange (DEX) called Ethereal on the upcoming Ethena network. This DEX aims to provide on-chain support for USDe and will be integrated into Ethena's reserve management. The proposal suggests distributing 15% of the Ethereal governance tokens to Ethena token holders. Ethereal plans to launch its testnet in the fourth quarter of this year, targeting support for one million operations per second with latency under 20 milliseconds. Ethena Labs stated it will release a voting snapshot soon, although the exact date has not yet been announced.
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