On April 2, DeFi protocol Ethena Labs will launch 750 million ENA governance tokens to contributors within the Ethena Shard marketing campaign. The amount of cash distributed will quantity to five% of the overall circulation of 15 billion. Till April 1, customers will obtain the variety of tokens similar to the factors collected within the Ethena Shard marketing campaign. The property have to be obtained inside 30 days. Unclaimed ENA can be additional distributed to all airdrop contributors.
Ethena is an artificial USDe protocol constructed on high of Ethereum (ETH). The undertaking presents passive revenue and the coin is positioned as a stablecoin. Ethena makes use of liquid Ethereum tokens as underlying property, corresponding to sETH from the Lido protocol. US value stability, in keeping with the builders, is ensured by a impartial hedging course of on centralized (CEX) and decentralized (DEX) exchanges.
Because of the Ethena Shard marketing campaign, the stablecoin’s capitalization has reached $1.3 billion. Based on this indicator, the asset ranks fifth among the many largest stablecoins available on the market, in keeping with CoinGecko.
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