2024-04-09
On Apr 8, 2024, Ethena Labs announce
Sats Campaign update to boost ENA staking reward.
Users who lock ENA for a minimum of 7 days
will receive the highest number of Sats earned at 30x per day.
Users who hold a minimum of 50% in ENA
when compare to their balance of USDe earning rewards on any platform will receive
50% boost on their total USDe rewards.
How to earn USDe reward boost?
-7 days lock USDe
-USDe position on Gearbox or Morpho
-Curve LP position with USDe locked on
Ethena
-sUSDe holding
-USDe bridged to an eligible L2
Learn more about ENA staking reward.
Ethena Labs has emerged as a new important player in the decentralized finance (DeFi). It create innovative approach to stablecoin design. The company's flagship product, USDe, is a synthetic dollar that aims to maintain a peg to the US dollar by engaging in ether futures and capturing funding rates.
The high yields offered by Ethena Labs are primarily derived from ether-future funding rates and staking ether to a validator. This approach allows the company to offer an annualized yield on deposits, which is an attractive rate for investors seeking to maximize their returns in the volatile crypto market.
The concept behind USDe has been
somewhat controversial, but it has not deterred the project from attracting
significant capital and interest from the DeFi community.
In addition to its stablecoin, Ethena
Labs has also introduced a governance token, ENA, which has seen a rapid
increase in value.
ENA has a market cap of $1.95 billion.
It ranks 61st largest crypto by market cap.
This token was launched at
approximately $0.60 but now the token is trading at $1.38.
USDe is built on the Ethereum blockchain.
Ethena protocol focuses on providing a yield-bearing stablecoin that operates
independently of traditional banking systems, thus offering a decentralized
alternative for investors. This approach aligns with the ethos of DeFi, which
seeks to create an open financial system that is accessible to anyone with an
internet connection.
Ethena Labs has also been proactive in
improving potential airdrop eligibility through ENA Airdrop and Season 2: Sats
Campaign.
