Ethena is an innovative protocol built on Ethereum that offers a crypto-native solution for stable digital currency. Its main goal is to provide an alternative to traditional stablecoins that is independent of banking infrastructure. The main product of Ethena is USDe — a synthetic dollar backed by crypto-assets (ETH, BTC) and derivative positions that stabilize its rate.
$ENA — is a governance token that allows holders to participate in the development of the protocol, vote on changes, and receive rewards through staking. Its tokenomics provide for distribution among investors, ecosystem participants, and development funds, encouraging long-term participation.
Ethena is actively integrating into DeFi protocols, collaborating with players such as MakerDAO, Curve, and Aave. This indicates the growing recognition of USDe as a reliable stablecoin.
Thanks to a unique delta-hedging mechanism, Ethena maintains the stability of USDe by automatically adjusting derivative positions as the value of collateral changes. This makes the protocol resilient to market volatility.
Ethena ($ENA )— is not just another token. It is an attempt to rethink what a stable cryptocurrency should look like in a world where trust in banks is declining and decentralization is becoming the new norm.
