Token $ENA is the cryptocurrency of Ethena, a decentralized finance (DeFi) protocol aimed at creating a non-custodial stablecoin called USDe. ENA plays a crucial role in the Ethena ecosystem, used for protocol governance, staking, and earning rewards. Ethena stands out for combining yield farming and hedging strategies to ensure the stability of USDe without relying on traditional USD. With the potential to revolutionize decentralized stablecoins, ENA has attracted significant attention from the crypto community. However, investors should exercise caution as risks still exist.