$ENA

*ENA* is the native token of *Ethena*, a decentralized finance (DeFi) protocol built to create *synthetic, yield-bearing stable assets* on the Ethereum blockchain. Its flagship product, *USDe*, is a crypto-native stablecoin designed to maintain its peg without relying on traditional banking systems.ENA plays a key role in governance, staking, and incentivizing ecosystem participants. Ethena utilizes strategies like delta-neutral hedging to generate sustainable on-chain yields. With $ENA, users can vote on protocol upgrades, risk parameters, and earn rewards for securing the network. The project aims to build a resilient, decentralized alternative to traditional stablecoins and reshape the stable asset market.