What is the background of Ethena?

1/Ethena completed a $20.5 million round of touzi, led by #Dragonfly, and supported by trading platforms such as BN, Deribit, Bybit, OKX, Gemini and Huobi, as well as BitMEX founder Arthur Hayes and his family office.

·Seed round: unknown price, financing 6.5 million, valuation unknown

·Strategic financing: price 0.019u, financing 14 million, valuation 286 million

2#MakerDAOfounder#Runealso minted 5.66 million USDT into USDe through his personal address yesterday (30th)

IV. What are the shortcomings of Ethena?

Austin pointed out in the article that he prefers to call USDe a "structured note" rather than a stablecoin, and analyzed the four potential risks of USDe:

1/It is the security risk at the pledge level, whether the security and sustainability of the pledge node can be guaranteed;

2/It is the security risk of the futures contract opening platform. Both DEX and CEX have the risk of hacker attacks;

3/It is the contract availability risk. Sometimes there may not be enough liquidity to short;

4/It is the funding rate risk. Although the funding rate of short positions is positive most of the time, there is also the possibility of turning negative. If the comprehensive yield after the weighted pledge income is negative, it is quite fatal for "stablecoins". Although Ethena's approach is innovative and has potential, the project is still in the testing phase and has not yet been fully launched.

Due to the uncertainty and volatility of the cryptocurrency market, Ethena's stablecoin USDe still faces potential risks.

V. About #ENA价格预测?

The total amount of ENA is 15 billion, and the initial circulation is 1.425 billion (9.5%).

There are currently multiple valuation models for ENA price predictions on the market, such as:

1/ Reference to the transaction price of over-the-counter platforms (such as aevo, etc.): $0.65;

2/ Based on the average return of previous Binance mining projects (annualized 123%): $0.45.

3/ If the valuation is based on PE, the price will be higher. Because based on the recent

#Ethena's revenue, Ethena's annual revenue will reach 330 million US dollars.

Although the road is long, you will get there if you walk; although the matter is difficult, you will succeed if you do it. #ENA瞬间燃爆全网成为 $SOL $BTC $ETH