$ENA

$ENA, the native token of Ethena, plays a vital role in the decentralized finance (DeFi) ecosystem. Ethena is a synthetic dollar protocol built on Ethereum, offering a crypto-native alternative to traditional stablecoins through its USDe product. $ENA is used for governance, allowing holders to vote on protocol changes, incentives, and upgrades. It also plays a role in staking and rewards, incentivizing long-term participation. The token has garnered attention due to its innovative model, aiming to create a scalable, censorship-resistant, and yield-bearing digital dollar. With growing adoption, $ENA continues to attract DeFi users seeking stability and sustainability in the crypto space.