# stablecoins — X 热门讨论 (2026-09-20 05:42 UTC)
## @anzep13 (anze) · 09-19 19:31 · ♥46 ↻5 💬4 That's the bullposting you love to see from a founder.
Quite a bit going on around @ethena at the moment:
> Unlocks - one final unlock on Oct 5 and it's done, most big investors already bought out > Buybacks - fee switch proposal would direct 95% of net revenue into programmatic ENA buybacks, scaling with USDe supply milestones > USDe Diversification - perps cut to just 11% of the backing, rest in stablecoins, DeFi lending and RWAs > BD Partnerships - two tokenized AAA CLO funds added to USDe's backing, JAAA from Janus Henderson and STAC from Securitize, plus Coinbase earn > New Products - Ethena Pay with 5% cashback, card tiers gated on locked ENA
So there's finally a clear plan for $ENA to become part of the ecosystem instead of just another governance token sitting on the sidelines. And most of all, no more unlocks and monthly investors dumping after Oct 5.
$USDe's backing has been diversifying since April, so it gets new yield sources and stops depending on one risky leveraged strategy.
They've become an established stablecoin, steadily going for USDS ($4.83B vs $9.59B), with a protocol that's proven and battle-tested at this point, especially after surviving 10/10 (which in my eyes, was a miracle, but hats off to both Ethena and Aave). That makes ENA a lot more lucrative than it was.
They keep innovating and hitting big BD deals, which has always been one of their strongest points imo.
Good time to be paying attention, Ethena's team is on fire. > 引用 @gdog97_: Almost +$1b in USDe in ~3 weeks. Would be a shame if ran it all the way back. https://t.co/Qc4dQoMznA https://x.com/anzep13/status/2101393804918165587
## @TimDraper (Tim Draper) · 09-19 16:00 · ♥42 ↻5 💬5 I sat down with Kyle Chassé for a wide-ranging conversation, and he asked the kind of questions that let me get into the ideas I care about.
A few of the things covered:
Bitcoin as life management, not just portfolio management
A family needs runway. A corporate treasurer needs to make payroll no matter what happens to the banking system. Six months of runway in Bitcoin is a hedge against chaos, and I watched that lesson play out when Silicon Valley Bank went down.
Stablecoins as a bridge
They get people comfortable with digital payments and on-chain life. A positive step, even though a coin tied to the dollar inherits the dollar's problems.
The frictionless business
Imagine raising a fund in Bitcoin, entrepreneurs paying employees, suppliers, and taxes in Bitcoin, everything on-chain in smart contracts. Money that moves faster makes society wealthier. Gold and shells slowed the economy down. Bitcoin speeds it up.
AI and your job
You do not have to quit to innovate. Improve your job with AI, get better at it, and let the leadership around you encourage it. The saddle makers became car mechanics. The mathematicians figured out the computer.
Thanks for having me on, Kyle.
Go listen to the full episode: https://t.co/5A2Q6BFF9q https://x.com/TimDraper/status/2101340614910677498
## @SimkinStepan (Stepan | squads.xyz) · 09-19 21:48 · ♥40 ↻5 💬5 holding your money is a very effective way for a bank to keep selling you things
stablecoins and self custodial accounts provide the necessary decoupling and let the money live in an account you control. financial providers plug into it to do a job
think openrouter, but for financial services
one provider has the best FX quote, another can settle faster, another has the local payment rail you need, use whoever does the job best
switching providers should be a routing decision instead of moving your entire financial life to another bank
we're not quite there yet. but the direction is clear. the growth of stablecoin orchestration ecosystem is not slowing down. there is fierce competition on fx, rails and scalable approach to compliance
having to earn the next transaction because holding the customer's money no longer guarantees you get it will naturally lead to more efficiency and a win for the customer https://x.com/SimkinStepan/status/2101428295300796487