Ethena said USDe will expand its collateral mix after approval from an independent risk committee, while short perpetual positions now make up 11% of USDe backing. Ethena said the diversification plan will add overcollateralized institutional stablecoin lending, more real-world assets beyond U.S. Treasury bills, stock and commodity basis trading, and prime lending for trading institutions. Ethena said the earlier framework did not impair collateral assets, require reserve fund use, or face critical issues.