ENA
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- Introduction
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1. Project introduction
Ethena is a synthetic dollar protocol on Ethereum that offers a crypto-native solution for money independent of traditional banking systems. It introduces USDe, a stable and scalable currency backed by staked Ethereum collateral. The protocol ensures stability through delta hedging derivatives positions against held collateral. Additionally, Ethena provides an 'Internet Bond' that combines yield from staked Ethereum with funding from perpetual and futures markets to create an onchain dollar-denominated savings instrument for users in permitted jurisdictions.
2. Token application and distribution
Token application:
ENA is the native utility token of Ethena, used primarily for governance purposes.
Token distribution:
Binance Launchpool 2.00%
Investors 25.00%
Team 30.00%
Foundation 15.00%
Ecosystem 28.00%
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