[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![0xdaesu Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::3073925205.png) daesu [@0xdaesu](/creator/twitter/0xdaesu) on x XXX followers
Created: 2025-07-20 21:06:10 UTC

the value prop of usde has changed

ethena no longer pursues full delta neutral exposure despite a higher yield to capture (only XX% exposure now)

so usde becomes a hybrid product offering combined exposure to the bullishness of crypto and tbills

![](https://pbs.twimg.com/media/GwVDFosXIAEefRv.jpg)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947040358245794279/c:line.svg)

**Related Topics**
[delta](/topic/delta)
[usde](/topic/usde)
[prop](/topic/prop)

[Post Link](https://x.com/0xdaesu/status/1947040358245794279)