As the earliest ecological project announced by Ethena to earn airdrop points by staking $ENA , Ethereal originally planned to end its first season in May, but the delayed public testing phase has only arrived in June.
Based on my observations, whether Ethereal will launch its mainnet in Q3 depends on the following three points:
Can Converge Chain launch in Q3? (The underlying architecture must be online for the Ethereal App Chain to go live)
Ethereal public test network operation status (bug fixes, operation optimization, new features, etc.)
Is the supply of eUSDe and USDe stable and increasing? (The gas fee for this DEX is USDe)
In summary, at least it needs to be confirmed whether the Converge chain can launch on schedule in Q3, so that ecological projects can launch sequentially.
Recently, Converge has actively released news about project aggregation, and it seems highly likely to launch in Q3. However, for the ecological project Ethereal, the mainnet will probably have to wait until at least the end of Q3.
*Note that the launch of the Ethereal mainnet does not necessarily mean there will be a token airdrop; the mainnet is just one of the necessary conditions for the airdrop.
Regarding the Ethereal public test network, anyone interested can go directly to the official website to test; I've summarized a few key points:
Log in to receive 100U test tokens, which can be used to test contract trading features
Supports a maximum of 50x leverage
Supports 19 types of cryptocurrencies
Can enable one-click trading to simplify the wallet signing process
Participating in the public test should not be related to the token airdrop; at least the overall testing trading volume is not large, but you can still participate in the testing and provide feedback to the official team.
Summary
The current main ways to participate in Ethereal airdrops include:
Mint eUSDe and participate in DeFi protocols
After staking ENA, accumulate airdrop points through sENA.
The main differences are:
Low-risk strategy: Mint eUSDe and hold it in the wallet; mint eUSDe, deposit it into DeFi protocols, and lend out assets (maintaining liquidity)
High-risk strategy: Buy or borrow ENA, stake it as sENA to earn Ethereal airdrop points
Currently, it seems that since sENA can allocate 15% of the Ethereal airdrop, the accumulation speed is significantly greater than the airdrop points obtained with stablecoin eUSDe. It depends on users to decide how to participate in the Ethereal airdrop based on their risk preferences.
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※Ethena code:
eu54u
※Ethereal code:
R7AH81
Link placed in the top comment
※The above content does not constitute investment advice; users should operate according to their own risk tolerance, DYOR, and participate in the investment market with caution.
※The attached image is from Ethereal