Ethena was just selected by Binance Launchpool as the 50th project. What is this project and what is outstanding about its existing products? Today, let's find out with BCS.
What is Ethena (ENA)?
Ethena (ENA) – this is an LSD (Liquid Staking Derivative) protocol developed based on Ethereum.
Ethena provides a cryptocurrency solution that does not depend on traditional banking system infrastructure, supporting increased profits for users through USDe - this is Ethena Labs' synthetic dollar.
Ethena products
Ethena's main product is USDe, an ERC-20 token.
Ethena's synthetic dollar, USDe, will ensure stable value and generate profits for holders through the use of delta-hedging.
USDe will be fully supported transparently onchain and can be freely composed across DeFi.
The stability of the USDe exchange rate is ensured through the use of derivatives based on the delta-heding mechanism.
Users can mint USDe by mortgaging LSTs (Liquid Staking Tokens) such as stETH...using USDe for activities such as earning profits through Internet Bond.
When officially released, users can:
• Access external AMM pools to buy or sell USDe with stablecoin collateral such as USDT or USDC
• Mint directly USDe, deposit stETH collateral and receive USDe
• Exchange USDe directly, send USDe and receive stETH
• Stake and unstake USDe
Key metrics
• Name: Ethena
• Code: ENA
• Token type: ERC-20
• Blockchain: Ethereum
• Contract: update…
• Supply when listed on Binance: 1,425,000,000 (9.5% of total supply)
• Total supply: 15,000,000,000
• Allocation on Binance Launchpool: 300.000,000 (2% of total supply)
What is Ethena (ENA)?
Ethena (ENA) – this is an LSD (Liquid Staking Derivative) protocol developed based on Ethereum.
Ethena provides a cryptocurrency solution that does not depend on traditional banking system infrastructure, supporting increased profits for users through USDe - this is Ethena Labs' synthetic dollar.
Ethena products
Ethena's main product is USDe, an ERC-20 token.
Ethena's synthetic dollar, USDe, will ensure stable value and generate profits for holders through the use of delta-hedging.
USDe will be fully supported transparently onchain and can be freely composed across DeFi.
The stability of the USDe exchange rate is ensured through the use of derivatives based on the delta-heding mechanism.
Users can mint USDe by mortgaging LSTs (Liquid Staking Tokens) such as stETH...using USDe for activities such as earning profits through Internet Bond.
When officially released, users can:
• Access external AMM pools to buy or sell USDe with stablecoin collateral such as USDT or USDC
• Mint directly USDe, deposit stETH collateral and receive USDe
• Exchange USDe directly, send USDe and receive stETH
• Stake and unstake USDe
Key metrics
• Name: Ethena
• Code: ENA
• Token type: ERC-20
• Blockchain: Ethereum
• Contract: update…
• Supply when listed on Binance: 1,425,000,000 (9.5% of total supply)
• Total supply: 15,000,000,000
• Allocation on Binance Launchpool: 300.000,000 (2% of total supply)
