Ethena, a high-performance protocol that leverages the concept of synthetic dollar, has just announced the launch of its governance token ENA, which will be distributed to its community through an airdrop.
Anyone who has participated in the incentive campaign and has farmed “shards” is eligible to redeem the cryptocurrency, which will be available from April 2nd.
Let’s see below how Ethena works and the details of the inauguration of the new token.
Ethena: what is this $1.4 billion yield protocol?
Ethena is a yield protocol, which introduced for the first time in the history of DeFi the concept of synthetic dollar with the digital resource USDe, with which returns are generated from innovative hedging strategies and from Ethereum staking.
Ethena is betting everything on USDe, which represents the cornerstone currency of the project, built to be scalable, stable, and resistant to censorship.
It is an algorithmic stablecoin, which maintains its peg through a sophistica
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