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Bybit • Latest Activities
Tags: Earn
Bybit is thrilled to introduce a game-changing update to On-Chain Earn. Starting Mar 5, 2025, 10AM UTC, users can mint and redeem USDe directly through Bybit On-Chain Earn. This feature makes Bybit the first exchange to offer a non-whitelisted USDe minting solution, enhancing USDe liquidity and accessibility within our ecosystem.
What Is USDe?
USDe, created by Ethena, is a synthetic dollar backed by crypto assets and hedged through short Futures positions. It offers users a stable, high-yielding alternative in the digital asset space.
USDe Minting vs. Redemption
""Minting"" USDe refers to the creation of new synthetic dollars. Users deposit USDT or USDC into the Mint contract, receiving USDe instantly.
""Redeeming"" USDe is the reversal process, allowing users to exchange synthetic dollars for the assets that collateralize them, such as USDT or USDC.
Why USDe Mint/Redeem Matters
Previously, Bybit users could only acquire USDe through:
- Spot trading (subject to market liquidity and volatility)
- Convert (dependent on market makers)
- External minting via Ethena (limited to whitelisted users)
Now, Bybit On-Chain Earn offers the only non-whitelisted USDe mint/redeem option in the market, giving users full control over their assets while maximizing liquidity and returns
Why Mint USDe With Bybit?
-No Whitelist Restrictions – Unlike on Ethena, where USDe minting is only available to whitelisted users, Bybit’s On-Chain Earn is open to everyone
-Swift Transactions – USDT/USDC to USDe minting and redeeming are completed in a single transaction, ensuring swift receipt of the corresponding assets
-Enhanced Liquidity – Eliminates the reliance on market makers and reduces price volatility by offering a direct On-Chain minting solution
-Effortless USDe HODL & Earn – Simply hold USDe in your Bybit Funding Account and earn dynamic, high interest rates (APR) automatically — absolutely no staking is required!
[Learn More]<https://announcements.bybit.com/en/article/up-to-10-apr-maximize-your-usde-holdings-on-bybit--bltdd089025b26b7961/>
How It Works
1. Mint USDe – Deposit USDT or USDC into Bybit On-Chain Earn and receive USDe instantly.
2. Redeem USDe – Convert USDe back to USDT or USDC seamlessly, with the transaction completing in one step.
[Mint Now]<https://www.bybit.com/en/earn/pos>
🔹 Get ready to experience seamless, unrestricted USDe minting and earning—only on Bybit On-Chain Earn!
👉 Stay tuned for the launch on [Mar 5, 2025]
🚀 Stake today and take advantage of guaranteed returns with zero gas fees. 💸
Terms and Conditions
- Users must complete Identity Verification Lv. 1 to be eligible for this event.
- Minimum minting limit is 5,000 USDT/USDC, and there's no max minting limit.
- Early redemption is not allowed.
- All participants must strictly adhere to Bybit Terms of Service. Bybit reserves the right to disqualify any participants who engage in dishonest or abusive activities, including but not limited to bulk account registrations to farm additional bonuses and any other unlawful, fraudulent, or harmful activities.
- Bybit reserves the right to modify the terms of this event without notifying users in advance.
- Bybit reserves the right to the final interpretation of this event. If you have any questions, please contact our Customer Support.
Source: Bybit Official Announcement — originally published on Thu, 06 Mar 2025 21:12:36 GMT.
