Willemstad, Curaçao, Netherlands, June 27th, 2024, Chainwire
Leading the charge in the realm of cryptocurrency gambling and sports betting, Cloudbet has recently shared news of its adoption of Ethena’s sUSDe and ENA tokens. This incorporation of sUSDe onto the platform offers bettors a unique opportunity to earn returns even when their funds are not actively being used for wagering activities.
This strategic move marks a significant milestone in enhancing financial flexibility and operational efficiency for Cloudbet users. In the conventional scenario, funds deposited by users into their gaming accounts would lay idle until bets were placed. However, with the integration of sUSDe, a staked iteration of the algorithmic stablecoin USDe, Cloudbet has revolutionized the betting landscape, ushering in a new era of user-focused innovation.
A spokesperson from Cloudbet elaborated, stating, “Whether users are actively placing bets or taking a hiatus, their sUSDe holdings continue to generate a yield. This unique feature empowers users to potentially offset their betting expenses or amplify their bankrolls, creating additional value beyond their gambling endeavors on the platform.”
Cloudbet’s strategic decision to integrate Ethena’s USDe, sUSDe, and ENA tokens follows a comprehensive assessment of the current cryptocurrency domain and extensive consultations with key figures within the crypto community. The dialogue with leading voices in the digital currency sphere underscored the necessity of embracing this opportunity.
The inclusion of Ethena tokens and ENA, the governance token linked to the Ethena protocol which debuted at $0.55 in April 2024, highlights Cloudbet’s progressive, crypto-oriented approach towards industry advancements. The spokesperson further emphasized, “Our team was captivated by Ethena and the concept of Internet Native Yield, uniquely offered by USDe. The underlying mechanics of USDe provide a competitive edge over mainstream stablecoins, enabling users to stake USDe for sUSDe and avail themselves of the protocol’s generated yield. This strategic move equips Cloudbet users with a competitive edge over their counterparts, making it a top priority in our product development roadmap.”
As of June 27, 2024, the sUSDe yield stands at an impressive 10.1%. In a bid to bolster its commitment to crypto-friendly online gaming, Cloudbet has expanded its network support to encompass various blockchain networks, including TON and Base.
About Cloudbet
Cloudbet stands as a trailblazer in the realm of crypto betting. Since its inception in 2013 as the world’s first crypto-compatible sportsbook and casino, Cloudbet has catered to hundreds of thousands of users, processing millions of bets and cementing its reputation as the most trustworthy, secure, and VIP-oriented brand in crypto gaming.
Cloudbet patrons have access to a diverse array of betting options across 30+ cryptocurrencies, ranging from Bitcoin, Ethereum, and stablecoins like USDC and USDT, to SOL and other prominent altcoins. The platform is multilingual, supporting 18 languages, including Spanish, German, Italian, French, and Japanese.
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