đ§ What is ENA token? Ethena Labs Features
đ What is Ethena?
đ Ethena is a USD (synthetic dollar)Â synthesis protocol on the Ethereum blockchain. The project provides a cryptocurrency investment solution that does not depend on traditional banking infrastructure and a global USD savings tool "Internet Bond".
đ On March 29, Ethena became the 50th project
on Binance Launchpool. Binance plans to list ENA token at 3:00 p.m. on April 2 and attach a seed tag to this token.
đ Characteristics of Ethena
đ USDe: Ethena Labs manages the creation and redemption of the synthetic USD coin "USDe". This is the first fully-backed, on-chain, scalable and censorship-resistant cryptocurrency.
đ Internet bond: Internet bond tightly integrated with blockchain technology and cryptocurrencies, providing yield on staked Ethereum and arbitrage between price and basis in perpetual and futures markets .
đ Profit: The project's profit comes from two sources:
+ Consensus rewards and enforcement of staked ETH.
+ Funding sources and price differences.
đ Delta hedging mechanism: Feature that helps reduce the risk of price fluctuations, automatically adjusts to keep the delta position (price correlation) with the underlying asset.
đ Ethena introduces two new concepts: USDe and internet bonds. The project promotes blockchain transparency with many utilities to meet the diverse needs of users.
#Coinbay#Ethena#Ena#BinanceLaunchpool
