Ethena Labs
--
Ethena ($ENA) Q4 2024 Financial Report
Ethena ($ENA) Q4 2024 Financial Report
Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. This initiative addresses the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.
Revenue and User Statistics 2025-03-07$ENA Token Metrics as of March 05, 2025Market Cap: $2.02BFully Diluted Market Cap: $5.74BCirculating supply: 5,285,937,500 ENATotal Supply: 15,000,000,000 ENAToken Holders: 59,767
Performance Highlights:USDe was the fastest USD asset to hit $5bn of supply ever. sUSDe on Aave crossed over $1bn and Ethena markets on Pendle passed $2bn.Avg sUSDe APY of 18% for 2024 set a new benchmark rate for the entire industry. Ethena was the second fastest protocol to hit $100m of revenue ever.Launched the Ethena Network, with 3 applications committing a % of their token supply to sENA. Ethereal is the largest so far with over $300m of TVL and 15% of token supply committed to sENA.
Future Outlook:
Ethena will launch a new product next month to export sUSDe in an institutional friendly wrapper for traditional finance: iUSDe.Ethena will launch a Telegram application for users to send, spend and save with sUSDe. Immediate access via Telegram’s 900m+ users provides the distribution platform to deliver this product to the world.Continue building out Ethena Network, launching new applications to drive value back to sENA with apps committing a % of their token supply to sENA.
Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. This initiative addresses the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.
Revenue and User Statistics 2025-03-07$ENA Token Metrics as of March 05, 2025Market Cap: $2.02BFully Diluted Market Cap: $5.74BCirculating supply: 5,285,937,500 ENATotal Supply: 15,000,000,000 ENAToken Holders: 59,767
Performance Highlights:USDe was the fastest USD asset to hit $5bn of supply ever. sUSDe on Aave crossed over $1bn and Ethena markets on Pendle passed $2bn.Avg sUSDe APY of 18% for 2024 set a new benchmark rate for the entire industry. Ethena was the second fastest protocol to hit $100m of revenue ever.Launched the Ethena Network, with 3 applications committing a % of their token supply to sENA. Ethereal is the largest so far with over $300m of TVL and 15% of token supply committed to sENA.
Future Outlook:
Ethena will launch a new product next month to export sUSDe in an institutional friendly wrapper for traditional finance: iUSDe.Ethena will launch a Telegram application for users to send, spend and save with sUSDe. Immediate access via Telegram’s 900m+ users provides the distribution platform to deliver this product to the world.Continue building out Ethena Network, launching new applications to drive value back to sENA with apps committing a % of their token supply to sENA.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.