About Ethena
Ethena is a synthetic dollar protocol on Ethereum, and ENA is its governance token. Its main product is USDe, a crypto-backed synthetic dollar that holds its peg using collateral and hedging positions rather than bank deposits or cash reserves, and it also offers a savings version called sUSDe. ENA holders vote on protocol settings, including how USDe is backed and how revenue is used. Ethena Labs founded the project in 2023, and the ENA token launched in April 2024. As an ERC-20 token, ENA relies on Ethereum's proof of stake consensus. It has a fixed maximum supply of 15 billion, spread across ecosystem, foundation, investors, contributors, and an early-user airdrop.
Ethena ends token incentives for USDe after 85% decline in rewards
Ethena's shift from token incentives to organic growth challenges its stablecoin's sustainability, impacting investor confidence and market dynamics.
Breed VC raises $15M second fund for early stage crypto startups
Breed VC's fundraise highlights sustained interest in early-stage crypto investments, signaling resilience and potential growth in the sector.
Ethena’s USDe briefly drops to $0.65 on Binance before recovery
The incident highlights the vulnerability of centralized exchanges to operational issues, emphasizing the resilience of decentralized platforms.
Ethena aims to decouple from Bitcoin price fluctuations, says founder
Ethena's strategy to diversify revenue sources could stabilize its financial model, reducing vulnerability to crypto market volatility.
Guy Young builds Ethena Pay neobank to deliver yield directly to users
Ethena Pay's innovative yield-sharing model could disrupt traditional banking by offering competitive returns and fostering crypto adoption.
Ethena CEO discusses USDe’s shift to AAA-rated collateral
Ethena's pivot to AAA-rated collateral could attract institutional investors, enhancing stability but potentially limiting high-yield opportunities.
A sourced map of Ethena's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on Ethena and the wider market, hosted by our team, will appear here once episodes are live.