$ENA Ethena (ENA) is a decentralized stablecoin protocol offering a synthetic dollar for DeFi and Web3 uses. It employs a delta hedging strategy to ensure stability, scalability, and censorship resistance. The protocol includes a governance token, ENA, which has potential for significant growth.
How is Ethena used?
Ethena (ENA) is a decentralized stablecoin protocol that offers a synthetic dollar called USDe, which is designed to be stable, scalable, and censorship-resistant. The ENA token is the governance token of the Ethena ecosystem and plays a crucial role in the protocol's governance and operational aspects.
Governance and Utility
Governance: ENA token holders can participate in protocol governance, voting on key decisions such as risk management frameworks, USDe backing compositions, and potential partnerships or integrations.
Utility: ENA is used in various incentive mechanisms within the platform, including staking rewards and liquidity provision.
