The Ethena community has introduced a proposal to add SOL as a backing asset for USDe, using a mechanism similar to the one currently employed by Ethena for BTC and ETH perpetual futures. The proposal also suggests incorporating BNSOL (Binance Liquid Staked SOL) and bbSOL (Bybit Liquid Staked SOL) as additional backing assets for USDe.

The introduction of SOL as a backing asset for USDe could potentially strengthen the peg and increase liquidity, while the addition of BNSOL and bbSOL may appeal to users seeking liquid staking options. However, this move also raises concerns about over-collateralization and market volatility. Ethena will need to carefully balance its risk management strategy and ensure that the additional assets do not compromise the stability of USDe.

The Ethena community's proposal to add SOL as a backing asset for USDe is a strategic move, as it diversifies the stablecoin's collateral pool and enhances its resilience. Incorporating BNSOL and bbSOL as additional backing assets could also attract more liquidity from the Solana ecosystem. However, it's crucial to assess the risks associated with these liquid staking derivatives and their potential impact on USDe's stability.