#BNB Binance’s golden shovel is here again, and BNBholders are comfortable again
This time Binance Launchpool Ethena @ethena_labs is a stable currency protocol based on ETH's Delta. This track is also very popular at present, and the off-site price is about $0.7.
So what is thena?
Ethena is a synthetic USD protocol built on Ethereum that will provide a crypto-native solution for currencies that do not rely on traditional banking system infrastructure, as well as a globally accessible USD-denominated savings instrument - "Internet Bonds". Ethena’s synthetic U.S. dollar USDe will provide the first censorship-resistant, scalable, and stable cryptocurrency-native solution for funding enabled by delta-hedged Ethereum collateral. USDe will be fully transparently supported on-chain and freely composed throughout DeFi.
The stability of the U.S. dollar peg is ensured by using delta-hedged derivative positions against the collateral held by the protocol.
The “Internet Bond” will combine proceeds from staking Ethereum with funding and basis from perpetual and futures markets, creating the first on-chain crypto-native “bond” that can serve as a USD-denominated savings instrument for users in permitted jurisdictions Jurisdictions.
#ENA is Ethena’s native utility token and is used for the following functions:
Governance: ENA token holders can vote on protocol governance decisions
About token economics and initial circulation (with photos)
The total supply of ENA is 150,000,000,000 as of March 29, 2024, and the initial circulating supply at launch will be 1,425,000,000 (approximately 9.5% of the total token supply)
How to participate in mining?
Use BNB and FDUSD to mine Ethena (ENA). After 08:00 on March 30, 2024 (East Eight District time), put BNB and FDUSD into the ENA mining pool on the Launchpad website to obtain ENA rewards. ENA can be mined in total. 3 days;
BNB mining accounts for 80% of the weight, BNB can mine a total of 240,000,000 ENA (80%), and the FDUSD mining pool can mine a total of 60,000,000 ENA (20%)
