Ethena (ENA) has been listed on HotsCoin on April 2. Ethena (ENA) is a synthetic dollar protocol based on Ethereum that aims to provide a crypto-native solution to provide support for currencies that do not rely on traditional banking system infrastructure. , and provides users around the world with dollar-denominated savings instruments, known as "Internet Bonds." ENA is currently open for trading on HotsCoin.
Token information:
①Initial token circulation
1,425,000,000 (9.50% of token base)
② Overall and maximum token supply
15,000,000,000
③Token distribution
investor
Token target 25.00%
team
Token target 30.00%
foundation
Token target 15.00%
ecosystem
Token target 28.00%
Technology and operating principles
Ethena is a synthetic U.S. dollar protocol built on the Ethereum blockchain. Its core mechanism is to ensure the stability of the synthetic U.S. dollar USDe is pegged to the U.S. dollar by using delta to hedge derivatives positions. At the same time, by combining the proceeds from staking Ethereum with funding and basis from perpetual and futures markets, “Internet Bonds” are created to be used as USD-denominated savings instruments for users in permitted jurisdictions.
Functions and startup
Once Ethena is launched, users will be able to:
Earn USDe without permission, buy or sell USDe using stablecoin collateral such as USDT or USDC through external AMM pools.
Mint USDe directly, deposit stETH collateral and earn USDe, subject to KYC/KYB checks from approved market makers.
Exchange USDe directly, deposit USDe and earn stETH, subject to KYC/KYB checks from approved market makers.
Pledge and unpledge USDe to obtain the corresponding share of income. This feature is only available to users in permitted jurisdictions.
Market prospects and competition analysis
Ethena was built to solve the biggest and most obvious need in crypto, which is to provide a stable and scalable form of crypto-native currency for decentralized financial systems. Although many stablecoins already exist on the market, there is still an unmet need for USD-denominated savings instruments, especially globally.
Development planning and future prospects
Ethena’s development plans include continuing to increase its visibility and usage in the cryptocurrency market, further expanding its user base, and continuously improving its protocols and features to increase its competitiveness. In the future, Ethena is expected to become an important player in the cryptocurrency field and provide users around the world with a stable and reliable savings tool.
risk warning
Although Ethena offers innovative solutions, investors still need to be aware of market volatility and risks. Uncertainty and high volatility in the cryptocurrency market may have an impact on the price of ENA. In addition, the increase in competitors and changes in regulatory policies may also have an impact on the project.
in conclusion
Overall, Ethena, as a synthetic USD protocol, brings new development opportunities to the cryptocurrency market. As it continues to develop and improve, Ethena is expected to become a leader in the crypto-finance field in the future and provide more financial freedom and choice to users around the world.
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