The Ethena platform has officially launched the sENA token! As previously disclosed to users, Ethena introduced sENA as a liquidity token in the third season airdrop event. Specifically, users can stake $ENA tokens on the Ethena platform. After completing the pledge, users will receive an equal amount of sENA tokens as liquidity assets. These sENA tokens can then be used flexibly in other decentralized finance (DeFi) protocols.
Currently, users can stake ENA tokens in their wallets through the "Earn" page of the Ethena official website and immediately receive the corresponding sENA tokens at a 1:1 ratio.
The current uses of holding sENA tokens mainly include the following:
Points acquisition: Users holding sENA tokens can receive up to 40 times the points reward, which is an additional incentive for liquidity providers.
Points bonus: The sENA obtained by users through staking ENA tokens can also provide a bonus effect for the airdrop points obtained from non-ENA assets according to the proportion of their staked ENA to the total assets, further increasing the user's income.
Airdrop redistribution: For the ENA airdrop tokens that were not claimed in the second season, these unclaimed shares will be redistributed to current sENA holders as a reward for active participation in staking and liquidity provision.
Cross-protocol application: sENA tokens are also planned to be applied to other DeFi protocols in the future to provide users with more usage scenarios and liquidity options. However, the specific protocols supported still need to wait for Ethena's subsequent updates and announcements.
For those users who have already locked $ENA on the Ethena platform in advance, please wait patiently for Ethena to launch the function of seamlessly converting locked ENA into sENA so that you can enjoy all the benefits and conveniences brought by sENA tokens.
