Ethena (ENA), a money-making machine in the crypto world, is ENA worth holding for the long term?

1. What exactly is Ethena?

A synthetic dollar protocol built on Ethereum, with ETH as the underlying asset USDe is a synthetic dollar protocol on the Ethereum chain, with#ETHas the underlying asset. It is constructed through short collateralization of spot ETH and futures ETH, and the two hedge to become a Delta-neutral stable asset. Even if the price of ETH fluctuates, the value of USDe's minting and collateral is almost unaffected, ensuring the stability and reliability of the asset.

What is the operating logic of Ethena's money-making? 1. Assuming that we invested $1,000 in stETH, after deducting various hedging and operating costs, we can mint $1,000 in USDe. 2. Then Ethena will automatically open an equal amount of ETH on the centralized exchange (CEX) to short the perpetual contract of U (USDT or USD) for hedging. 3. The stETH we put in will not be thrown directly into CEX, but transferred to custodians such as #Copper, #CEFFU, and #Cobo, so as to avoid those troubles, such as asset misappropriation or CEX explosion. 4. There are two ways to make money continuously in this operation, and it will also be given as a reward to the staked USDe (sUSDe): a/The income from staking PoS on Ethereum is about 3.2% annualized; the income from staking PoS is relatively fixed, which guarantees a basic stable income. b/There are also funding fees and basis spreads from delta hedging of those derivative positions, with an annualized income of 5 to 30%.

In general, Ethena is a platform that can make money, and can make money in a serious way. Its token (ENA) is worth paying attention to. The field of liquidity pledge derivatives LSD is developing rapidly, especially the field of LSD stablecoins is about to see new innovations. Similarly, the community-launched Eigenlayer is also worth paying attention to, and even worth holding for a long time.


This round of Bitcoin rally has caught both old and new investors off guard. Even many retail investors have missed this train.

And the price of Bitcoin is getting more and more expensive with each round of market cycle. As a result, many small retail investors are discouraged and unable to invest financially. This requires us to have the ability to discover potential stocks in the altcoins.

First, we look for potential altcoins. The first step is to set a general direction and scope. That is to find a good narrative logic that is relatively new and eye-catching. This is the so-called copying the new and not speculating on the old. When choosing a narrative, you must make sure it is: Popular - everyone is talking about it. Emerging - projects that appeared after the last bull market. Attracting ordinary people - ordinary people can empathize.


I personally think that AI concepts, Bitcoin ecology, RWA, Ethereum Restaking and other fields are clear winners.

The following are the sectors that I think have the greatest potential

RWA Section:
ELAND: Bringing global real estate into the digital green economy.
MBD: Non-traditional, decentralized financial district in the photorealistic metaverse.
LMR: Layer 0 network where users can access various data in the form of RWA.
SMT: A platform setting the gold standard for blockchain-based finance.
PROPC: A blockchain ecosystem for real-world assets and PropTech solutions.
FFM: Bringing real-world returns to the chain.
LNDX: The first global decentralized RWA platform for investing and trading farmland and agricultural products
LEOX: A digital passport for every luxury product.



Artificial Intelligence Section:
KNDX: Blockchain + NVIDIA Omniverse.
PALM: The multi-platform PaLM AI chatbot uses Google AI technology.
AQTIS: Bringing institutional-grade investment strategies to the masses through LST powered by AI and quantitative technology.
AEGIS: Pioneering blockchain security through AI auditing solutions.
VIA: An autonomous assistant powered by AI based on Web3.
ISP: Web3 developer platform based on artificial intelligence.



DePIN Section:
NODL: Creating digital trust networks for social good by connecting the world using smartphones as nodes.
IOT: Represents a paradigm shift towards decentralized wireless infrastructure.
OCTA: A scalable and fully decentralized cloud node infrastructure for distributed computing.
WIFI: It’s a movement towards free Internet and 175 million users worldwide.
ALEPH: Provides decentralized key-value storage, file storage, function execution, and virtual machine configuration.
DATA: Real-time data distribution for ultra-large-scale AI, video, and DePIN via secure P2P.



GameFi Section:
DUBBZ: Monetize your skills and creations in competitive gaming
CREO: Connecting the world in one universal gaming hub and elevating web3 gaming experiences for your benefit. DG: The first licensed Metaverse casino.
MCADE: The ultimate gaming platform for community, connection, and co-creation.
FYN: A multi-chain ecosystem that connects games to the real world.

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