Ethena (#ENA) Panorama of the Money Printing Machine Mode

Outline:

🚀 Ethena (ENA) Project Overview and Development Milestones

💡 Technology and Product Details

💎 Token Distribution

🌟 Investment and Market Performance

🗳️ Token Governance and Applications

💰 Token Price Prediction

Project Overview and Development Milestones:

Binance Launches Ethena (ENA): Binance launched Ethena (ENA) as the 50th Launchpool project and officially launched ENA on April 2.

Ethena and USDe Creation: Ethena is the creator of USDe, a synthetic dollar protocol built on Ethereum.

Market Milestone: In February 2024, Ethena launched a new USD stablecoin USDe with an annual interest rate of over 27%, and USDe supply has soared to over $1.5 billion, making it one of the fastest USD-denominated assets to reach this milestone in crypto history.

Technical and product details:

Inspiration and goals: EthenaLabs draws inspiration from Arthur Hayes' "Dust to Crust" article and is committed to creating a derivatives-backed stablecoin that solves the major problem of cryptocurrency's dependence on traditional banks. Its goal is to provide a decentralized, permissionless savings product for a wide audience.

USDe's innovative path: EthenaLabs' synthetic dollar USDe aims to be the first crypto-native, censorship-resistant, scalable and stable financial solution, achieved by delta hedging of collateralized Ethereum.

Internet Bond: EthenaLabs plans to introduce a product they call "Internet Bond" together with USDe. This will be a crypto-native, yield-generating, USD-denominated savings tool based on collateralized Ethereum returns and leveraging funding and basis differences in perpetual contracts and futures markets.

Differences from other projects: Unlike other CDP projects, EthenaLabs' USDe generates its USD value and yield by leveraging stETH and its inherent yield and taking ETH short positions to balance Delta and leverage perpetual/futures funding rates.

Strategy and Returns: This strategy allows the protocol to synthetically create a Delta-neutral CDP, holding Ethena's sUSDe (