suiUSDe, a synthetic USD backed by Ethena, has been launched on the Sui mainnet, marking the first synthetic dollar to support DeepBook Margin. This development expands Sui’s financial capabilities, allowing suiUSDe to be used for margin trading, lending, and other DeFi processes. The launch has garnered support from ecosystem participants, including SUI Group Holdings. Several projects, such as Abyss, Cetus, and Deeptrade, will support DeepBook Margin trading, with future support from Aftermath, AlphaLend, Bluefin, Ember, Navi, Pyth, Scallop, and Suilend.
This move follows DeepBook’s recent roll-out of on-chain leverage trading, enabling liquidity providers to earn passive income by contributing to trading pools. The development underscores Sui’s expanding DeFi ecosystem and cross-project collaboration.
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