Ethena Labs Launches Governance Token, Announces Massive Airdrop for Eligible USDe Holders

Ethena Labs, a decentralized finance (DeFi) protocol, has launched its governance token ENA with a 750 million token airdrop. The airdrop is available to eligible users who hold Ethena's yield-earning USDe. The airdrop and subsequent token launch on exchanges including Binance and KuCoin follow the "shard campaign," a reward program for early project involvement.

Ethena Labs Unveils Governance Token and Announces Massive Airdrop for Eligible Users

New York, April 11, 2023 - Decentralized finance (DeFi) protocol Ethena Labs has officially launched its governance token, ENA, accompanied by a substantial airdrop. Eligible holders of the protocol's yield-earning USDe token are invited to claim their portion of the 750 million ENA tokens.

Ethena Labs, founded in 2023, is a derivative infrastructure provider that aspires to transform ETH into the first crypto-native yield-bearing stablecoin, eliminating the need for reliance on traditional banking systems. In February 2023, the project secured $14 million in a seed extension round led by Dragonfly Capital.

ENA Governance Token Launch and Airdrop

According to an official announcement made on April 2, 2023, Ethena Labs invited holders of its USDe token, which currently boasts a market capitalization of $1.3 billion, to claim their share of the ENA tokens airdrop. The airdrop represents 5% of the total supply of ENA tokens, which will be subsequently listed on several major centralized exchanges.

"The full 5% of ENA has been allocated to the claim smart contracts. Our core contributors will be available around the clock to assist with any inquiries regarding the claimable ENA tokens," stated the project in its announcement.

Listing on Major Exchanges

As per the announcement, ENA tokens will be listed on various exchanges on Tuesday, April 11, 2023, at 8:00 AM UTC. The exchanges include Binance, Bitget, Bybit, KuCoin, MEXC, HTX, BitMart, and Coinone.

Reward Program and Enhanced Rewards

The airdrop and token launch follow the "shard campaign," a reward program that enabled early participants to accumulate points based on their engagement with the project through referral links. The number of tokens each eligible user receives from the airdrop is determined by the number of points accrued until April 1, 2023.

Ethena Labs has also initiated the Ethena Labs Season 2 Sats Campaign, which will run for a period of five months or until USDe's supply reaches $5 billion with BTC backing. The campaign offers enhanced rewards for early adopters.

Additional Information

For further insights into Ethena Labs, readers may refer to the following resources:

• Binance Labs' Incubation Program: https://cointelegraph.com/news/binance-labs-ends-incubation-s6-program-with-7-investments
• Sam Bankman-Fried's Sentencing: https://decrypt.co/120866/sam-bankman-fried-sbf-gets-25-years-heres-a-full-breakdown