Bittime - Ethena Labs has just announced the simplification of their ENA token liquidity lock process based on feedback from the community. This is done to increase interest in long-term participation in the Ethena Labs ecosystem.
What is a Liquidity Lock?
Liquidity lock is a mechanism used to secure and stabilize the value of tokens. This mechanism is carried out by storing some tokens in a smart contract so that they cannot be traded for a certain period.
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This ensures that there is at least a minimum number of tokens always circulating in the market, thereby preventing large price fluctuations due to large transactions.
New ENA Token Liquidity Lock Scheme
Through this new scheme, users can lock their ENA tokens to get increased rewards in the form of sats. The more ENA tokens locked, the greater the increase in rewards earned.
Also read: Is ENA (ENA) Safe? Analyzing New Stablecoin Projects
This increase in rewards can reach up to 100% depending on the number of ENA tokens locked compared to the user's USDe holdings.
ENA Keys to Earn Bigger Rewards
The highest reward, namely 30x, remains awarded to users who lock their ENA tokens. In other words, locking ENA will make the USDe crypto assets you own in the Ethena Labs ecosystem more productive.
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Example of Calculation of Increased Rewards
For example, you have $1000 worth of USDe held across various products or services within the Ethena Labs ecosystem.
- If you lock $200 worth of ENA, you will get a 20% increase in rewards.
- If you lock $500 worth of ENA, you will get a 50% increase in rewards.
- And if you lock $1000 worth of ENA, you will get a maximum reward increase of 100%.
This reward increase will apply to all USDe and sUSDe you own.
Flexible and Attractive for Long Term Investors
Apart from that, ENA that has passed the vesting period and can be liquidated can still be locked to get increased rewards. These locked ENAs will also continue to receive 30x multiplier rewards in the form of sats.
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In short, this latest liquidity lock scheme from Ethena Labs offers convenience and more attractive profits for long-term investors who want to maximize the potential of their ENA and USDe tokens.
How to Buy Ethena (ENA) on Bittime
You can buy and sell Ethena (ENA) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethena (ENA) is available on Bittime with the market pair ENA/IDR. To be able to buy ENA IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethena (ENA) on Bittime.
Monitor price chart movements for Ethena (ENA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ethereum Based Altcoin: Ethena (ENA) on Binance
Ethena Labs Strengthens USDe with Bitcoin Support
Ethena Coin (ENA): Is This the Next Big Stablecoin?
Ethena (ENA) Plunges 17%, Trading Activity Declines
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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