$ENA is a DeFi protocol focused on creating a synthetic dollar called USDe.
The main objective of Ethena is to provide a stable, censorship-resistant, and yield-generating digital dollar without relying on traditional banks.
Key Points:
USDe maintains stability using a delta-hedging strategy (spot + perpetual futures)
ENA token is used for governance, incentives, and protocol growth
The project targets DeFi stability, yield generation, and scalability
Strong fundamentals, but short-term price moves mostly follow market sentiment & BTC
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