Ethena Announces 750 Million ENA Airdrop
Ethena is joining the ranks of decentralized finance protocols that organize airdrops for their users. The protocol, which seeks to build a decentralized finance bond system outside the banking system and produce a dollar-pegged synthetic token, announced the launch of its governance token ENA.
The allocation of 750 million ENA, constituting 5% of the total supply, will be made according to each user’s activity in the protocol. This will be determined by the number of shards received by each user during the previous 6-week shard campaign.
While small holders will receive their ENA airdrop without vesting, the 2000 largest wallets holding ENA will receive only half of their allocation on the day of the airdrop. The other half will be distributed in a 6 month vesting period subject to the users holding at least the same amount of USDE, Ethena’s synthetic dollar, as they did when the airdrop snapshot was taken.
