The Project I Expected to Increase by +1300%!
What is Ethena?
Ethena is a synthetic dollar protocol built on Ethereum. It aims to offer a crypto-native money solution without relying on traditional banking system infrastructure.
In this context, it aims to create 'Internet Bond', a globally accessible dollar-denominated savings instrument. Ethena's synthetic dollar, called USDe, aims to provide the first censorship-resistant, scalable and stable crypto-native currency solution by staking Ethereum collateral with delta hedging.
ENA All Details 🔥👈⌛️
Ethena Labs manages the issuance and redemption of USDe, a delta-neutral synthetic dollar that is cryptocurrencies' first fully backed, on-chain, scalable and censorship-resistant form of money.
Additionally, these tokens aim to maintain a permanent price peg of $1 by balancing against perpetual short Ether positions on derivative exchanges. Ethena will conduct an airdrop of up to 750 million ENA tokens to users who hold USDe and lock their tokens into the system. The process will end on April 1st, with users able to claim ENA tokens starting from April 2nd.
"Price Estimate"
Pre Market price of $ENA is currently going for around 0.65 $ per $ENA on WhalesMarket
Total Supply of $ENA is 15 bill which gives a total FDV of $9.75 Bill
I think the project will be fixed at $1. We will see this on April 2..
With the launch of ENA on Binance Launchpool, users now have the opportunity to farm ENA tokens by staking their BNB (Binance Coin) and FDUSD (a stablecoin pegged to the US dollar). This farming process will take place over a three-day period, starting from March 30, 2024, at 00:00 UTC.
