In a move that can only be described as a stroke of genius-or perhaps sheer audacity-YZi Labs (formerly known as Binance Labs, darling, keep up!) became one of the first investors in Ethena’s Season 6 Incubation Program back in February 2024. Oh, the irony! A stablecoin that doesn’t rely on banks? How positively revolutionary! Or, as Nicola Wang, Investment Director at YZi Labs, so eloquently put it: “We were impressed by Ethena’s team and their unique approach to stablecoin design – building a crypto-native model that generates yield without relying on banks.” Bravo, Nicola, bravo! 👏