$ENA Ethena is revolutionizing decentralized finance (DeFi) with its synthetic dollar protocol, USDe. Unlike traditional stablecoins, USDe is backed by delta-neutral strategies using staked ETH and perpetual futures, ensuring both stability and yield. Ethena also introduces the “Internet Bond,” offering users a stable, yield-generating asset without reliance on traditional banks. This innovative model provides censorship resistance, on-chain transparency, and real yield—all while maintaining a 1:1 peg to the U.S. dollar. With growing adoption and robust protocol security, Ethena is quickly becoming a cornerstone of the DeFi ecosystem, reshaping how users store value and earn passive income in a decentralized world.