USDe

Ethena

Synthetic dollar issuer Ethena Labs has announced the launch of claims for its new governance token ENA.
The protocol, known for its yield-earning USDe token, is looking to distribute 750 million ENA tokens through an airdrop. The airdrop will see 5% of the token’s total supply flow into the market.
<a href="https://crypto.news/ethenas-usde-stablecoin-hits-public-mainnet-backed-by-eth-hedges-for-liquidity/" rel="noopener noreferrer nofollow">Ethena Labs</a> announced the development via an <a href="https://x.com/ethena_labs/status/1775060005953421401?s=20" target="_blank" rel="noopener noreferrer nofollow">X post</a>, inviting users to claim the airdrop. Following the announcement, the price of ENA jumped 8%. The token quickly garnered a considerable market cap of over $890 million on Aug. 2, per Coingecko data.
At the core of Ethena’s offering is the USDe token, designed as a “synthetic dollar” that aims to maintain a stable value close to one dollar. It achieves this through a unique blend of ether liquid staking tokens and short ether (ETH) perpetual futures positions.&nbsp;
This strategy has not only attracted individual investors but also <a href="https://crypto.news/ethena-labs-reportedly-suffers-from-security-incident-analysts-suspect-290k-exploit/" rel="noopener noreferrer nofollow">caught the eye</a> of institutional players within the cryptocurrency domain.
Stablecoin issuer MakerDAO has revealed plans to allocate 600 million DAI to Ethena’s USDe token. This move will be facilitated through the defi lending protocol Morpho Labs.&nbsp;
You might also like: <a href="https://crypto.news/wormholes-w-token-set-for-april-3-launch-secures-major-exchange-listings/" rel="noopener noreferrer nofollow"> Wormhole’s W token set for April 3 launch, secures major exchange listings </a>
“Ethena TVL growth is on track with internal expectations,” <a href="https://x.com/MacroMate8/status/1774860464855351537?s=20" target="_blank" rel="noopener noreferrer nofollow">said</a> Seraphim Czecker, Ethena’s Head of Growth, after announcing the MakerDAO move.&nbsp;
MakerDAO’s faith in Ethena and USDe stems from an <a href="https://forum.makerdao.com/t/morpho-spark-dai-vault-update-1-april-2024/24006" target="_blank" rel="noopener noreferrer nofollow">analysis</a> by BA Labs, part of MakerDAO’s advisory council, which observed strong user demand for the stablecoin. The analysis recommended focusing on higher leverage USDe pools, advocating for a more considerable allocation of MakerDAO’s stablecoin DAI in these areas.
Meanwhile, Ethena has also launched a <a href="https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/GTbzFynrve4gzSjIEKL0vz7Kq0UHkIiekHkup0EXgjU" target="_blank" rel="noopener noreferrer nofollow">new phase</a> of its airdrop on April 2. Dubbed the “Sats” campaign, it will focus on onboarding BTC as a backing asset for USDe. The project will leverage BTC perpetual futures, giving it access to an additional $25bn of open interest to hedge.&nbsp;
Read more: <a href="https://crypto.news/bitcoin-futures-open-interest-options/" rel="noopener noreferrer nofollow"> Bitcoin futures open interest hits record $36b before options expiry </a>

Ethena Labs launch ENA with a 750m airdrop as MakerDAO grabs USDe

crypto.news

Các bài viết khác được xuất bản trên 2 thg 4, 2024

Kaspa (KAS) Price Correction Ahead: Challenges Loom for Optimistic Bulls

Best Altcoin Today: Presale Performance Drives Algotech Above $3.6M Amid Dogecoin Dump and Dogwif...

Crypto News April 02: Is This the End of the Bull Market?

Vitalik Buterin shares his Ethereum simplification plan

Breaking: Binance Burns 4.17 Billion Terra Luna Classic (LUNC)

Bitcoin: A sharp bleeding and liquidation of 500 million dollars

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!