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Ethena Protocol To Airdrop Governance Token Next Week

source-logo  cryptonews.net 28 March 2024 13:55, UTC

On April 2, DeFi protocol Ethena Labs will airdrop 750 million ENA governance tokens to participants in the Ethena Shard Campaign. The volume of coins distributed will be 5% of the total circulation of 15 billion. Users will receive the number of tokens corresponding to the points accumulated in the Ethena Shard Campaign until April 1. The assets must be received within 30 days. Unclaimed ENA will be further divided among all airdrop participants.

Ethena is a synthetic USDe protocol built on top of Ethereum (ETH). The project offers passive income, and its coin is positioned as a stablecoin. Ethena uses liquid Ethereum tokens as underlying assets, such as stETH of the Lido protocol. USDe price stability, according to the developers, is ensured through a neutral hedging process on centralized (CEX) and decentralized (DEX) exchanges.

Thanks to the Ethena Shard Campaign, the stablecoin’s capitalization has reached $1.3 billion. According to this indicator, the asset ranks fifth among the largest stablecoins on the market, according to CoinGecko.

Image: thedefiant