#ENA

😀This morning, the OTC futures price of ENA suddenly reached an astonishing $3.5. As expected, adjustments followed. At present, the OTC futures price of ENA has quickly adjusted back to around $2.6. The huge pump and huge adjustment occurred before ENA was listed on Binance. Of course, the price we see is only a virtual pre-market price. The real price of ENABLE can only be seen after Binance opens on April 2.

What is ETHENA?

Since the concept is very complex, we don’t use blockchain language here, so I translated it into human language.

ETHENA just digs and digs in the small garden, planting big seeds and blooming big flowers.

Then our seed is ETH

ETH was planted as a seed in the soil of ETHENA. He performed a series of operations.

These operations include

😘1. Pledge ETH spot, that is, in the land of ETHENA, we accidentally joined the Proof-of-Stake, POS consensus algorithm. You must know that this is a sophisticated algorithm. Staking patients need 32 or an integral multiple of 32 ETH to participate in futures. The current price of Ethereum is as high as 3,500 US dollars, which means that at least 112,000 US dollars are needed to participate in the ETH staking game. But now the fertile land of ETHENA has perfectly solved this problem. I just checked and the income from this part is probably close to 3%.

😍2. The most important profit point on ETHENA is the funding rate. According to the report given by the official website, the funding rate for short positions of centralized exchanges OKX, Deribit, Bitget, Bybit, and Binance in the bull market exceeds 50 % of the time is positive, which gives the ETH short position enough room to profit. It can be understood here that ETHENA is going to be a hedge fund. In traditional hedge funds, the hedging targets are trading pairs with strong correlations.

🤑3. Basis trading income, this part is easy to understand as the difference income between spot and delivery futures contracts. The annualized rate of this part of income is about 0.5%.