Founder of Ethena Labs: The platform has handled the largest daily redemption volume, and there has been no case of insufficient collateral for USDe

Golden Finance reports that Ethena Labs founder @leptokurtic_ posted on the X platform, saying that the past 24 hours have been very difficult. Ethena Labs handled its largest single-day redemption volume and lifted all unrealized exposures to exchanges within an hour after the event occurred. USDe has never had a situation of insufficient collateral, even if the unrealized exposure to exchanges did not drop to zero within one hour, USDe is still in a state of over-collateralization.

It is hoped that this event can verify some design decisions made to reduce user risks for using OES custody solutions. The simple design route is to avoid costs and increase engineering complexity in off-chain hedging systems for custodians. Ethena Labs has not encountered any support losses or redemption request issues.