$ENA

Ethena (ENA) is a protocol developed on the Ethereum blockchain, known for its innovative stablecoin, USDe.

Features of Ethena and USDe

Ethena has created a new class of stablecoin called USDe. Unlike traditional stablecoins like USDC or USDT, USDe is not pegged to fiat currencies. Instead, USDe is a synthetic dollar backed by crypto assets such as ETH and short positions in corresponding perpetual futures.

ENA Token

The ENA token is the native governance token of Ethena. It is mainly used for governance purposes, allowing ENA holders to participate in key decisions regarding the development and direction of the protocol. Recently, Ethena Labs has activated the ENA token and has begun trading on centralized exchanges.

In summary

Ethena (ENA) is part of an innovative ecosystem that introduces USDe, a new form of stablecoin that offers an interesting alternative to traditional stablecoins. The ENA token plays a crucial role in the governance of the protocol, helping to shape the future of Ethena and its applications in the cryptocurrency space.