Ethena USDe Circulating Supply exceeds 12 billion USD, activating Fee Switch becomes a priority.

PANews September 2 news, according to DL News report, the circulating supply of USDe stablecoin issued by Ethena has reached $12.43 billion, a rise of 42% compared to last month, making it the third largest USD stablecoin. The protocol's revenue exceeded $61 million in August, meeting two of the three indicators required for Fee Switch activation, while the remaining USDe needs to be listed on four major centralized exchanges. Ethena ENA holders are expected to be the first to receive profit sharing from the protocol. The current Annual Percentage Rate of USDe is 9%, higher than USDC's 4.2% on Aave. In terms of risks, Chaos Labs and S&P Global have warned about potential liquidity and risk exposure issues of USDe.