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Hashid Investment's Based One launches USDe-backed derivative trading platform HyENA
Source: DigitalToday Original Title: HashKey Investment’s Base One Launches USDe Collateralized Derivatives Trading Platform ‘HyENA’ Original Link:
Web3 venture capital firm HashKey’s project Base One announces the launch of the derivatives trading platform HyENA based on Hyperliquid.
Base One is a builder team engaged in the development and construction of the derivatives market within the Hyperliquid ecosystem, providing tools related to user interface development and market operations over the long term. HyENA is implemented based on the development standard (HIP-3) proposed by Hyperliquid, supporting external developers to construct derivatives markets independently.
Ethena is a digital asset project that issues and manages the stablecoin USDe, dedicated to exploring use cases of collateral assets in on-chain environments and designing risk management frameworks. The Ethena Foundation also participates as a major investor in Base One.
On the HyENA platform, USDe can be set as a collateral asset. Initially, it supports trading assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Hyperliquid (HYPE). Specific reward structures and operational methods will be executed according to policies provided by Base One.
Edison Lim, CEO of Base One, said, “We have the opportunity to experiment with new market formation methods using Hyperliquid’s development standards.” Guy Young, founder of Ethena, added, “The use cases for USDe collateral assets are continuously increasing across multiple environments, and HyENA is an attempt worth considering within this trend framework.”