Ethena Labs: May Fund Custody Transparency Report Released

ChainCatcher news, Ethena Labs officially released the custody proof for May to enhance the transparency of its project. The data shows that as of 10 AM UTC on May 24:

• USDe supply: $2.673 billion
• Custodian supported assets: $2.677 billion
• Reserve fund: $42.3 million
• Total assets of the protocol account for 101.74% of the USDe supply

In addition, the security agency Immunefi has set up a bug bounty program for Ethena. Discovering critical vulnerabilities in the Ethena smart contracts can earn a reward of 10% of the directly affected funds, up to a maximum of $3 million.