$ENA
Ethena (ENA) is not just another coin; it is an ambitious project that challenges traditional stablecoins. Created by Ethena Labs, it introduced to the world USDe — a "synthetic dollar" that is not tied to the banking system.
Instead of traditional reserves, USDe uses an innovative strategy: it is backed by cryptocurrencies such as Ethereum and simultaneously hedged using futures contracts. This "delta-neutral" approach allows it to maintain a stable value while avoiding risks associated with traditional finance.
The ENA token, in turn, is the key to managing this ecosystem. It gives holders voting rights, allowing them to participate in the development of the protocol. Ethena is quickly gaining traction, becoming one of the most discussed innovations in the DeFi space.