Overview
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Ethena's solution has both Onchain and Offchain composite components & services.
The Onchain components include the smart contracts that enable the minting, redeeming, staking, and unstaking of USDe.
The Offchain components include services that manage the delta hedging positions with respect to deposited backing assets.
In order to access the centralized liquidity, explicit trade-offs need to be made for onchain trust assumptions which are detailed in this section.
You can read more in the following sections:
