$ENA Powering Ethena's Synthetic Dollar Ecosystem

$ENA is the native governance token of Ethena, a decentralized protocol creating synthetic dollars known as USDe. Built on Ethereum, Ethena aims to provide a stable, censorship-resistant digital dollar alternative, backed by delta-neutral strategies involving staked ETH and derivatives. $ENA holders govern the protocol, influencing key decisions like collateral types and reward mechanisms. The token also captures value from the ecosystem’s growth and stability utility. With rising demand for decentralized stable assets, stands out by combining DeFi composability with scalability. As Ethena gains traction, could become a cornerstone asset in the evolving crypto-financial stack, bridging the gap between stability and yield. Its success hinges on sustained adoption and robust on-chain liquidity.