Ethena has firmly established itself as the third largest issuer of the stablecoin USDe and is historically the most completed stablecoin with a scale of 10 billion dollars.
EThena Season 4 Airdrop Arbitrage Strategy
1. Open the ENA official website, connect your wallet, and activate your airdrop eligibility to receive a 10% reward.
https://app.ethena.fi/join/kxhze
2. Go to Pendle to purchase YT-USDe to earn airdrop points
https://app.pendle.finance/trade/markets
Just buy and wait for the airdrop.
Principle:
1 YT-USDe earns 60 points per day. Currently, 1M points can be exchanged for 12.84 sENA.
The 1000u principal in the picture can finally earn 58177.5 x 60 points/day x 44 days = 153.5886M points.
Currently, 1M points can be exchanged for 1972 sENA in airdrops.
1 sENA = 1.0182 ENA, so in the end, it's 1972 x 1.0182 = 2008 ENA
Currently priced at 0.8U, worth 1606u, while your investment is 1000u.
In other words, you purchased ENA futures at a cost of 0.498u each. The airdrop ends on September 24, and rewards will be distributed in October. The price difference in between is your arbitrage space.
If you have staked ENA, you can also add bonuses to your YT points. There are many details, so I won't go into them.
Some people say, what if the coin price drops in October?
You can hedge short in advance. After you buy 1000u of YT-USDe, open a short position of 2008 ENA to lock in profits early. When the reward drops, you sell it off and close the position. The sENA you earned can also continue to participate in the fifth season airdrop and keep earning.
I haven't hedged anyway; I think the coin price can break 1u, and then we'll talk when the price is high.
Done, let's make money together.
For those who have already participated, we provide a reward calculator DApp.
Just open it in the wallet browser, https://airdropzone.cn/ena.html
