$ENA Recently, I found that some friends still don’t know how to get the ENA airdrop, so this article will explain it in a little more detail, from the content of the event to the operation method, etc.

ENA airdrop introduction:

Event address:

ENA official website gain 10% Sats link: app.ethena.fi/join/kxhze

Total airdrop amount:

This is the second phase of ENA airdrop, that is, season 2. The first phase released 5% of the total ENA of 15 billion, that is, 750 million. How much will be released in this phase? The introduction of the official website will be announced after the end of the event, which is the same as the first phase. The fifth General FAQ on the official website homepage is this content. My personal prediction is at least 5%, the same as the first phase, and may not exceed 10% at most. That is 750 million to 1.5 billion ENA.

How much can each person get?

The amount of airdrop ENA each person gets depends on how many points you get in this phase, which is called Sats. The percentage of your points divided by the total points of this airdrop is the proportion of ENA you get in the airdrop. The total points and your personal points can be seen on the homepage of the official website.

How to get Sats? - Stake ENA or USDe,

First, let's talk about staking USDe. Visit the homepage app.ethena.fi/join/kxhze and connect your wallet to log in. Of course, you must ensure that you have USDT in your wallet. Click Buy, then select USDT and buy it. Of course, you need to prepare some ETH in your wallet as gas fees. If you are a novice, it is recommended that you deposit $10 of ETH in case of emergency, because many airdrop activities may use a little gas fees.

Then click Stake, enter the amount of USDe you want to stake, and confirm. After staking, you will get an equal amount of sUSDe, which is a staking certificate, and then you can experience an annualized return of 15.9%. The interest is also issued to you in the form of sUSDe. The interest rate is dynamic and changes every week. It started at 35% and has recently dropped to 15%+, which is still a very good interest rate.

If you want to redeem, click Unstake and exchange sUSDe back to USDe. However, after clicking Unstake, you have to wait 7 days before you can claim and actually withdraw it to your wallet.

Similarly, you can also choose Lock ENA or Lock USDe at the How to Earn page, and you will get corresponding points.You can also select liquidity in the top menu of the homepage, and then do the same as locking.

Among them, there is one, Pendle, you can also choose to exchange your ENA for PT ENA, YT ENA, LP ENA on the Pendle platform, they all have corresponding points bonus and ENA staking interest. Newbies don't understand you can also not use this function, but it is true that this staking reward is more.

Event end time:

September 2 or the supply of USDe reaches 5 billion will end immediately. Currently it is 2.3 billion.

ENA's official website app.ethena.fi/join/kxhze Copy and save for backup.

So how does the official pay these interests? How does it make money?

This involves the mechanism of USDe. Whenever you buy a certain amount of USDe, the system will pledge a certain amount of ETH or BTC, and open a short contract at the same time. The two will offset the price fluctuations of its collateral, thereby stabilizing the value of USDe. Among them, the collateral, such as ETH or ETH derivatives, will have stable returns, and short contracts will have funding rate income most of the time. This is how the USDe project makes money, and these incomes will be distributed to people who pledged USDe in the form of interest. At the same time, they issued ENA, which was also distributed to participants as airdrop rewards.

This is also the reason why many people are optimistic about this project, but in essence, ENA is a reward coin for promoting USDe. Therefore, with the continuous release of ENA circulation, it will have a negative effect on the price increase of ENA. So what is the appropriate price of ENA? This requires comprehensive consideration of USDe's market share and ENA's overall market value. I will write a separate article to analyze this aspect later. Interested friends can follow me.

The currency circle needs a decentralized stablecoin to distinguish it from the previous USDT. ENA has a total of 15 billion, and only a little more than 10% has been released so far. But I am personally optimistic about the application value of the stablecoin USDe itself. If you only hold ENA spot or contracts, you should be aware that before each airdrop, there may be whales involved in the price increase, which will facilitate them to sell at a high price when the airdrop is in place.

So I prefer to exchange funds for USDe for stake or lock ENA. If you want long-term, continuous and stable returns, then staking USDe or locking ENA will be a very pleasant thing.

ENA's official website app.ethena.fi/join/kxhze Go and participate. This link also has 10% extra points.

How to calculate the specific value of Sats:

(Your Sats/Total Sats) X 15 billion X5% = The amount of airdropped ENA you will receive,

and then multiply it by the ENA price you estimate at the end of the event, which is the total value of your airdrop.

(Assuming that 5% of the total amount of ENA is released in this period, Note: 1T=1000B, 1B=1000M, 1M=1000K)