Raised US$20 million to list on Binance, understand the reasonable price prediction of Ethena token in one article
New coin mining is coming online again. It is the famous algorithmic stablecoin project Ethena (ENA). Mining started at 8 a.m. on March 30 and lasted for 3 days. Trading will open at 16:00 on April 2. The total amount of ENA is 15 billion, the initial circulation is 1.425 billion, and the total mining amount is 300 million. That is, the fdusd pool yield is 1.5% or 180% annualized.
Users can use BNB or FDUSD to participate. Ethena will be analyzed in this article
#ENA's project business, new coin mining details and estimated token prices.
Ethena project background
Ethena Labs’ current main product is Delta-neutral Synthetic Dollars USDe. The creative inspiration for this product comes from Arthur Hayes, the founder of BitMEX. In March 2023, Arthur wrote an article called "Dust on Crust" 》 article, the article talked about his idea for a new generation of stable currency "Nakamoto Dollar", that is, to create a stable currency supported by equal amounts of BTC spot longs and futures shorts.
