$ENA

According to Ethena Labs’ white paper and project goals, USDe is intended to serve as a synthetic U.S. dollar that achieves 1:1 value stability with the U.S. dollar through crypto asset collateralization and hedging strategies. In theory, this means that USDe is designed and operated to keep its value stable and equivalent to the U.S. dollar, so that under normal market conditions, the value of USDe should not be significantly higher or lower than one U.S. dollar.