Market Data
About ENA
ENA is the governance and utility token for Ethena, a decentralized finance (DeFi) protocol that provides crypto-native synthetic dollar infrastructure. Ethena is best known for USDe, a synthetic dollar that maintains its peg through delta-neutral positions on liquid staked Ethereum collateral (stETH). Often referred to as a 'Global Internet Bond', the protocol enables a yield-bearing stablecoin solution that operates independently of traditional banking systems. ENA holders participate in the governance of the protocol, influencing key decisions regarding risk management and development.
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