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Ethena founder: USDe's peg to USDT is reasonable, and the minting and redemption functions did not crash during market turbulence.
On October 12, Guy Young, the founder of Ethena, tweeted that "although the DeFi money market has been criticized for USDe being pegged to USDT, I believe this is the right approach to avoid users being liquidated due to temporary price deviations. This decision has proven to be correct in every extreme event over the past two years. In this incident, the minting and redemption functions of USDe operated well. The price deviations of several liquidity pools such as Curve, Fluid, and Uniswap with over a hundred million USD in on-demand liquidity were all less than 30 basis points, consistent with the price deviations of USDC to USDT on CEX."