$ENA

Ena is the native token of Ethena, a synthetic dollar protocol built on Ethereum. It aims to offer a stable, censorship-resistant alternative to traditional stablecoins by using a delta-neutral strategy combining staked ETH and perpetual futures. Ethena gained popularity for its unique approach to stability without relying on fiat reserves. Launched in early 2024, it quickly gained traction among DeFi users seeking decentralized dollar exposure. The ENA token is used for governance and rewards within the Ethena ecosystem. Despite market fluctuations, Ethena continues to attract attention due to its innovative financial model and role in decentralized finance.