Ethena Labs Launches 750 Million ENA Token Airdrop
Ethena Labs, a decentralized finance (DeFi) protocol known for its flagship synthetic dollar, USDe, has announced the start of the distribution of its new governance token, ENA.
In a post on X, Ethena invited eligible users to claim their share in a 750 million ENA token airdrop, representing 5% of the total supply. The ENA token was immediately listed on several centralized exchanges like Binance.
Reception and Performance of ENA Token after Airdrop
Following the airdrop launch, the price of the ENA token experienced a slight 8% increase, reaching around 64 cents, with a market capitalization of approximately 900 million dollars. After a minor correction, ENA is currently stabilizing above $0.60, with a fully diluted value (FDV) maintained around $9 billion.
Check Your Eligibility and How to Get Your Tokens
The ENA token airdrop comes after the “shard campaign”, a reward program that allowed early participants to accumulate points based on their involvement in the project through various actions and referral links.
The number of tokens each eligible user will receive during the airdrop depends on the number of points they have accumulated until April 1, according to the project. To check your eligibility and retrieve your tokens, simply visit claim.ethena.fi.
Ethena does not plan to stop there and is planning to launch a campaign offering new incentives for the next phase of the airdrop, as revealed in a blog article last week.
The USDe token, nicknamed the “synthetic dollar”, generates returns for investors by pairing liquid Ether staking tokens with short positions on perpetual ETH futures contracts to maintain a target price of around $1.
