$ENA In brief, the underlying strategy, the delta-neutral coverage, is as fascinating as it is complex. Through a combination of staked Ethereum (sETH) and short positions on perpetual futures contracts, it attempts to remain isolated from market volatility. This approach, while trying to address the scalability issue of a native crypto dollar, also introduces new types of risks. The dependence on funding rates and the overall complexity of the system make it a powerful asset, but one that must be monitored carefully.

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