#Binance
The ENA currency is the native digital currency of the Ethena protocol, a project aimed at providing a synthetic dollar solution built on the Ethereum network, and does not rely on traditional banking infrastructure. The synthetic dollar of the project is called USDe.
The ENA currency acts as a governance token within the Ethena ecosystem. This means that holders of the currency have the ability to participate in the decision-making process regarding the development of the protocol and its future directions.
The Ethena project aims to create what it calls an "Internet Bond," a dollar savings instrument available globally that provides returns to users. The stability of USDe is supported by a hedging mechanism based on cryptocurrency digital assets and futures positions.
ENA is an essential part of the Ethena ecosystem, contributing to the decentralization of the protocol and empowering the community to oversee its operations.
