Skilled at playing with the left hand as if it were the right hand

CoinWorld News, Wu Shuo has learned that the DeFi organization Yam issued a statement indicating that, based on their calculations, among the total underlying assets supporting the stablecoin USDE worth $4.4 billion, as much as $1.33 billion exhibits a phenomenon of "self-lending" (lending against itself). Yam explained that their calculation method is "estimated self-lending scale = total borrowed amount collateralized by USDE/SUSDE × Ethena's market liquidity share." According to this proportional allocation method, the total borrowed amount collateralized by Ethena-related assets is approximately $1.67 billion, of which an estimated $1.33 billion is from Ethena's self-lending funds, and the remaining about $336 million comes from other lenders.