Binance's Launchpool will launch ENA soon. It stabilizes asset value and obtains additional income by staking and shorting ETH.

Binance also spent a lot of money on this event. In order to participate in this event, I made this picture: In the embrace of this sea, the mountains and rivers stand tall (vaguely see $ENA) They are silent and tenacious, and between the mountains and rivers, the rivers meander (reflecting the Binance LOGO) nourish the growth of all things.

Between the mountains and the sea, the world is reflected. Let's take a look at the project together!

1. Source of income

Ethena's income mainly comes from two sources.

The first source is staking ETH. Through protocols such as Lido, Ethena can earn a stable annualized income of 3% to 5%.

The second source is short positions. Although this income is not very stable, in the long run, short positions can earn positive income, and the current yield is between 5% and 20%.

In general, Ethena earns income through staking spot ETH and short positions, which not only guarantees a stable source of income, but also provides the possibility of obtaining higher returns.

2. Financing

In July 2023, the crypto startup completed a $6 million seed round of financing, led by Dragonfly, and supported by several well-known trading platforms and BitMEX founder Arthur Hayes and his family office.

In February 2024, Ethena Labs completed a $14 million strategic round of financing with a valuation of up to $300 million. This financing was jointly led by Dragonfly, Brevan Howard Digital and Arthur Hayes' family office Maelstrom, and participated by many well-known institutions.

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