#ENAUSDT🚨

ENA Token (Ethena)

ENA is the native governance and utility token of Ethena, a DeFi protocol on Ethereum that issues a synthetic dollar called USDe. It enables decentralized governance, gives holders voting power on protocol decisions, and supports staking and reward mechanisms . Ethena maintains USDe’s dollar peg using delta-hedging—balancing long crypto positions with short futures—and avoids reliance on traditional fiat reserves . As one of the largest crypto-native stablecoin issuers, Ethena’s innovative approach differentiates it in the DeFi space, though it remains exposed to risks such as funding-rate shifts and collateral depeg scenarios