ENA token has a different structure than other stablecoins that will be listed on Binance today. For example, for a stablecoin like Tether, a one-dollar collateral is deposited to the bank for each unit.

If Tether is subject to legal sanctions, its financial security may be completely eliminated.

ENA token, on the other hand, has a structure where one dollar is not secured as one dollar in the bank. Instead, assets such as ETH, BTC are held as collateral in a common pool along with SOL tokens.

This shows that the ENA token opens a different door for stable coins in the crypto world by eliminating the relationship and liability with banks. ENA aims to provide stable coin and dollar access for the crypto world without being subject to legal sanctions.

Ethena is a synthetic dollar protocol built on Ethereum and operates alongside the 'Internet Bond', a globally accessible dollar-denominated savings instrument for coins that does not rely on traditional banking system infrastructure.

Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum.

This protocol is supported by institutions such as BinanceLabs, OKX, BYBIT, Deribit.

With these features, ENA brings a new perspective to the current stablecoin understanding in the crypto ecosystem and aims to offer a more independent financial structure in the crypto world.

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