This is really, really cool!
Structured products struggled after DeFi summer, but I have high hopes for these types of products again, now that we have the correct infrastructure (and teams) pushing them forward.
USDe by @ethena_labs is an already well established and highly used product that caters to DeFi, Exchange, and Institutional markets.
Building on @convergeonchain is smart because they get the robust infrastructure provided by @arbitrum, while reaping the benefits of a well established ecosystem with deep liquidity.
I think we will start to see products like this really take off as we continue to see more institutional interest in the Ethereum ecosystem.
There are plenty of institutional investors out there that want exposure to reliable crypto strategies with well-defined risk profiles, backed by industry-leading DeFi teams with a proven track record.
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