What is Ethena?
Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated instrument — the ‘Internet Bond’. Ethena’s synthetic dollar, USDe, provides the crypto-native, scalable solution for money achieved by delta-hedging Ethereum and Bitcoin collateral. USDe is fully-backed (subject to the discussion in the Risks section regarding events potentially resulting in loss of backing) and free to compose throughout CeFi & DeFi.
USDe peg stability is supported through the use of delta hedging derivatives positions against protocol-held collateral.
The ‘Internet Bond’ combines yield derived from staked assets (e.g., staked Ethereum), to the extent used as backing assets, as well as the funding & basis spread from perpetual and futures markets, to create the first onchain crypto-native solution for money.
How to claim $ENA?
1️⃣ Go to the Ethena claim page *click*
2️⃣ Click “Connect Wallet” button
3️⃣ Select your wallet and click “Connect” button
4️⃣ Follow all instructions in your wallet and get your $ENA allocation
