$ENA

Ethena ($ENA) is a governance token that powers a pioneering synthetic dollar protocol on Ethereum. This innovative project has captured the market's attention thanks to its USDe solution, a digital asset that does not rely on traditional banking infrastructure. USDe maintains its stability through an ingenious "delta-hedging" strategy, which combines spot cryptocurrency assets and short positions in futures markets to neutralize volatility.

The success of the protocol is evidenced by the rapid growth of USDe, which has reached a multi-billion dollar market capitalization and offers attractive returns. This return, generated from ETH staking rewards and futures funding rates, positions Ethena as a formidable competitor in the stablecoin space and a catalyst for innovation in decentralized finance.