Upbit Embraces USDe: A New Era for South Korean Crypto Trading

Trading with USDe: What to Expect

According to Upbit’s official statement, USDe is set to be simultaneously listed across KRW, BTC, and USDT markets. Trading support is scheduled to go live at 6:00 PM KST on January 14th, while deposits and withdrawals will become available approximately an hour and a half after the announcement. The platform explicitly stated that only transfers conducted through the Ethereum network would be accepted.

In the initial trading hours, temporary rules will be enforced to limit price volatility. Buying orders will be restricted in the opening minutes, and only limit orders will be allowed for a certain period. Additionally, selling orders below pre-set thresholds compared to the previous day’s closing price will not be accepted.

Upbit announced that reference prices would be determined based on CoinMarketCap data. It urged users to verify contract addresses and network information prior to making transfers. Users were reminded that transactions from incompatible networks might not be processed, and their refunds could face delays.

Ethena USDe’s Innovative Structure and Applications

USDe differentiates itself from traditional collateralized stablecoin models through its synthetic architecture. Developed by Ethena, the system aims to achieve a delta-neutral balance by combining spot cryptocurrency collateral with perpetual short positions of identical nominal value. This structure helps offset the impacts of price fluctuations in collateral assets.

The model diverges from classic over-collateralized CDP systems by aiming to reduce the risk of forced liquidation during sudden price drops. It focuses on eliminating price exposure through hedge positions. Ethena’s team seeks to limit operational risks using automated hedge mechanisms, off-exchange custody solutions, and reserve structures.

USDe positions itself as a tool for blockchain-based payments, decentralized finance applications, collateral for derivatives, and digital value storage. With its listing on Upbit, this altcoin is set to gain wider accessibility within the South Korean market.