Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument – the ‘Internet Bond’. Ethena’s synthetic dollar, USDe, will provide the first censorship resistant, scalable and stable crypto-native solution for money achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently onchain and free to compose throughout DeFi.
USDe peg stability is ensured through the use of delta hedging derivatives positions against protocol-held collateral.
The ‘Internet Bond’ will combine yield derived from staked Ethereum as well as the funding & basis spread from perpetual and futures’ markets, to create the first onchain crypto-native ‘bond’ that can function as a dollar-denominated savings instrument for users in permitted jurisdictions.
SEASON 2
- Go to Ethena app and connect your wallet.
- You will need any one of the stablecoins like USDT, USDC, DAI, FRAX, etc. You can buy these on your favorite exchange.
- Now go back to Ethena and click on “Buy”.
- Swap your stablecoins for USDe (Ethena’s synthetic dollar).
- Go to “Stake” and stake some USDe.
- Also, provide some liquidity to some of the available pools.
- You will earn points in the form of sats for doing the above tasks.
- Also, earn 10% of the sats from each referral.
SEASON 1 CLAIM
- Visit the Ethena app.
- Connect your Ethereum wallet.
- Now click on “Claim $ENA“.
- If you’re eligible, you will be asked to go to Liquifi to claim your tokens.
- Log in with your wallet on Liquifiy and click on “Ethena Airdrop” to claim your tokens.
- Eligible users have until May 2nd, 2024, to claim the tokens, or else they will be redistributed to the community.