Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. This initiative addresses the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.
ENA is Ethena’s native utility token and is used in the following functions:
Governance: ENA token holders can vote on protocol governance decisions.
As of March 29th 2024, the total supply of ENA is 15,000,000,000 and the initial circulating supply upon listing will be 1,425,000,000 (~9.5% of the total token supply.)
Key metrics (as at March 29th 2024)
1.Existing Products
Solution design
How does it work?
Staking USDe
Peg arbitrage
2. Token sales and economics
Token Distribution
Token Allocation
Token release schedule
3. Roadmap & Updates
3.1 Completed Milestones
3.2 Current Roadmap
Q2 2024:
ENA Token Launch
Exchange Listings
BTC Onboarded as Collateral
Beginning of Season 2 of Incentive Campaign
DAO governance rollout
Q3 2024:
SOL as collateral asset
USDe cross-chain initiatives
Q4 2024:
Conclusion of Season 2 of Incentive Campaign
Second ENA distribution after conclusion of incentive campaign
4. Community