#Cloudbet #Cryptocurrency #Stablecoin #CryptoBetting #Blockchain #Ethena #sUSDe #YieldFarming
Cloudbet, a leading figure in the online gambling industry specifically tailored for cryptocurrency enthusiasts, has taken a significant step in enhancing the financial flexibility and potential earnings of its users by integrating Ethena’s USDe (sUSDe) and ENA tokens into its platform. This integration not only broadens the scope of cryptocurrencies available for wagering on their casino and sportsbook but also introduces a novel feature that allows bettors to earn yields on their deposits even when not actively betting.
Traditionally in the online gambling sphere, user deposits would remain stagnant, offering no returns until used for betting. Cloudbet’s incorporation of the staked version of the algorithmic stablecoin USDe (sUSDe) disrupts this traditional model by providing an opportunity for users to earn a yield on their holdings irrespective of their betting activities. This marks a pivotal shift in how users perceive and utilize their deposits, transforming idle funds into active, yield-generating assets. This move emphasizes Cloudbet’s commitment to user-centric innovations and sets a new benchmark for value addition within the crypto gambling sector.
The choice to integrate Ethena’s tokens was not arbitrary. Cloudbet engaged in extensive consultations within the crypto community and closely evaluated the evolving cryptocurrency landscape before concluding that Ethena’s offerings stood out, especially in terms of Internet Native Yield. The spokesperson from Cloudbet highlighted that the underlying mechanics of USDe offer a significant advantage over other popular stablecoins, as it allows users to stake USDe for sUSDe, thereby gaining access to the yield generated by the Ethena protocol. This strategic move grants Cloudbet users a notable edge, enhancing their betting bankroll beyond mere winnings. With the sUSDe yield positioned at 10.1% as of June 27, 2024, this integration showcases a proactive approach in embracing advancements in the crypto space, further solidifying Cloudbet’s reputation as a forward-thinking leader in crypto-friendly online gaming.
Moreover, Cloudbet has expanded its historically robust support for various cryptocurrencies by including multiple blockchain networks such as TON and Base, apart from its new offerings. This expansion is reflective of Cloudbet’s relentless pursuit of innovation and its dedication to offering a versatile and enriching betting experience to its users. Since its inception in 2013, Cloudbet has consistently demonstrated its role as a pioneering platform in the realm of crypto betting, and this latest development is a testament to its ongoing mission to provide a secure, trusted, and comprehensively rewarding platform for the crypto gaming community.
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