06.04.2024

Ethena Labs will hold airdrop of 750 million ENA tokens

On April 2, DeFi protocol Ethena Labs will begin airdrop of 750 million ENA management tokens among participants in the Shard incentive program.

The volume of distributed coins will be 5% of the total issue of 15 billion.

Users will receive the number of tokens corresponding to the points earned during Shard – “shards” – by April 1. The assets must be received within 30 days. Unclaimed ENAs will be further divided among all participants of the airdrop.

Ethena Labs is a USDe “synthetic dollar” protocol based on Ethereum. The coin is designed for passive earning in the network and is not positioned as a stablecoin.

Price stability is expected to be achieved by hedging risk by selling ETH using perpetual swaps.

The team also calls USDe an “internet bond” that offers a dollar-denominated savings instrument focused on DeFi.

In March, CoinGecko broke down how one should interact with the protocol to increase the chances of getting an Ethena Labs airdrop.

After the first token distribution, the team will immediately launch a second reward campaign called Sats. It will last for 5 months or end when USDe reaches a $10 billion capitalization, whichever comes first.

At the time of writing, Ethena Labs’ market cap of the steblicoin is approaching $1.4 billion. The team said USDe has become the “fastest” of dollar-denominated assets to surpass the $1 billion mark.


Data: CoinGecko.

As a reminder, Ethena Labs closed a $15 million seed round of funding led by Dragonfly and Maelstrom in February.

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Коля Мельниченко

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