Bittime - Ethena has invited USDe holders to claim their share of the 750 million ENA tokens distributed via airdrop. This amount is equivalent to 5% of the total ENA token supply.
Ethena Labs, the decentralized finance (DeFi) protocol behind the $1.3 billion USDe, has opened claims for its new governance token, ENA.
ENA Latest News
On Tuesday (2 April 2024), Ethena posted an announcement on X, inviting USDe holders to claim their rights to 750 million ENA tokens distributed via airdrop.
This number of tokens is equivalent to 5% of ENA's total supply and will later be listed on a centralized exchange.
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ENA Price Increase
Since the airdrop began, ENA's price has increased by more than 8% and is now trading at around 64 cents. Its market capitalization is approaching $500 million, based on data from CoinGecko.
Ethene (ENA) Future Plans
Ethena plans to start a new campaign by providing incentives in the next airdrop phase, according to information provided in last week's blog post.
The USDe token, known as a synthetic dollar, offers investors an advantage by combining liquid ether staking tokens with short ether (ETH) futures positions in the derivatives market to maintain a rough target price of $1.
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What is Ethene (ENA)?
Ethena is a protocol that brings synthetic dollars to the Ethereum platform. This protocol offers a crypto asset solution that is independent of the traditional banking system.
Ethena also provides a globally accessible dollar-denominated savings instrument, known as Internet Bond.
Also read: BNB Chain Meme Offers $1 Billion in Prizes for Developers, Here Are the Requirements
How Do Internet Bonds Function?
Internet Bond will combine yields from staked Ethereum with funding and base spreads from perpetual and futures markets.
The result is the first native on-chain crypto bond that can serve as a dollar-denominated savings instrument for users in permitted jurisdictions.
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ENA Innovative Solutions
Ethena Synthetic Dollar (USDe) presents an innovative solution in the world of crypto assets. This solution offers censorship resistance, scalability, and stability achieved through collateralizing staked Ethereum with delta hedging.
USDe will be fully supported transparently on the blockchain and can be freely used across DeFi platforms.
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Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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