Decentralized finance (DeFi) protocol Ethena Labs has announced the opening of AirDrop claims for its mainnet asset ENA. This move comes after the successful introduction of USDe, a token with a total value of 1.3 billion dollars that provides yield.
Altcoin Price Reaches $0.64
Recently, Ethena informed via social media platform X that an invitation was sent to USDe holders to claim their share of the AirDrop, consisting of 750 million ENA tokens, which is 5% of the total supply.
With ENA’s listing on centralized cryptocurrency exchanges (CEX), its accessibility and liquidity are expected to increase. According to data provided by crypto data and price platform CoinGecko, since the start of the AirDrop claims, ENA’s price has risen over 8%, reaching approximately $0.64, with its market value approaching $500 million.
This significant price increase of ENA highlights the market’s positive reception of the project and underlines the expectations surrounding the potential benefits of the governance token within the Ethena ecosystem.
New Incentives to Be Introduced
Looking forward, Ethena Labs has outlined plans to introduce new incentives as part of the next phase of the AirDrop campaign. This strategic initiative aims to attract and encourage more token holder interest, boost community participation, and improve the overall ecosystem dynamics. The introduction of additional incentives is part of the commitment to foster a lively and participatory governance framework within Ethena’s decentralized protocol.
At the heart of Ethena’s DeFi offering is the USDe token, often referred to as the “synthetic dollar.” This innovative token model allows investors to earn returns by leveraging ETH liquid stake tokens paired with short Ether (ETH) perpetual futures positions in the derivatives market. The USDe token is designed as a stablecoin to maintain a stable price target of 1 dollar, providing investors with a reliable and profitable opportunity for passive income in the DeFi world.
