Ethena以TGE和空投结束分片活动，ENA在盘前飙升

Ethena 的治理代币 ENA 将于今天推出，并立即在 Binance 和 Bybit 上市。总供应量150亿枚，初始流通量14.25亿枚。供应量的 5% 的空投将分发给分片活动的参与者。各个平台的上市前价格范围为每个代币 0.645 至 0.687 美元。 ENA 持有者将对协议参数拥有治理权，包括 sats 活动和分片活动第二季。

Ethena's Shard Campaign Culminates with TGE and Airdrop

Ethena 的分片活动以 TGE 和空投达到高潮

After a highly successful 6-week run, Ethena's inaugural Shard Campaign concludes today, marking a pivotal moment in the project's evolution. Tomorrow, April 2nd, eligible users can claim their ENA tokens at https://claim.ethena.fi/.

经过 6 周的成功运行，Ethena 的首次碎片活动于今天结束，标志着该项目发展的关键时刻。明天，4 月 2 日，符合条件的用户可以在 https://claim.ethena.fi/ 领取他们的 ENA 代币。

Immediate T1 CEX Listings and Pre-Market Prices

立即 T1 CEX 上市和上市前价格

In a testament to the project's high anticipation, Ethena's governance token, ENA, will enjoy immediate listings on tier-1 centralized exchanges (CEXs) upon its Token Generation Event (TGE). Binance and Bybit have already announced launchpools where users can earn ENA by staking USDT and ENA or BNB, respectively.

为了证明该项目的高度期待，Ethena 的治理代币 ENA 将在其代币生成事件（TGE）后立即在一级中心化交易所（CEX）上上市。 Binance 和 Bybit 已经宣布推出启动池，用户可以分别通过质押 USDT 和 ENA 或 BNB 来赚取 ENA。

Ahead of the TGE, ENA is actively trading on various pre-markets, providing insights into market sentiment. As of press time, the following prices prevail:

在 TGE 之前，ENA 正在各种盘前交易中积极进行交易，提供对市场情绪的洞察。截至发稿，以下价格为准：

• Bybit Pre-Market: 0.678 USDT
• Whales Market: 0.679 USD
• Kucoin: 0.687 USDT
• Aevo: 0.645 USD

It is important to note that these pre-market prices are based on limited volumes and should be interpreted with caution.

Bybit 盘前价格：0.678 USDT鲸鱼市场：0.679 USDKucoin：0.687 USDTAevo：0.645 USD 值得注意的是，这些盘前价格基于有限的交易量，应谨慎解读。

ENA Distribution and Release Schedule

ENA 分发和发布时间表

Ethena's token distribution and release schedule outlines the allocation of the total supply of 15 billion ENA tokens:

Ethena 的代币分配和发行时间表概述了 150 亿个 ENA 代币总供应量的分配：

• Total Supply: 15 billion
• Initial Circulating Supply: 1.425 billion
• Core Contributors: 30% of total supply, with a 1-year cliff, 25% cliff and 3-year linear monthly vesting schedule.
• Investors: 25% of total supply, with a 1-year cliff, 25% cliff and 3-year linear monthly vesting schedule.
• Foundation: 15% of total supply, reserved for funding further development.
• Ecosystem Development: 30% of total supply, including 5% allocated to the ENA airdrop.

It is noteworthy that neither the Core Contributor nor the Investor allocations will be unlocked before the 1-year cliff.

总供应量：150亿初始流通量：14.25亿核心贡献者：总供应量的30％，1年悬崖，25％悬崖和3年线性每月归属计划。投资者：总供应量的25％，1年悬崖，25％悬崖和3年线性每月归属计划。基金会：总供应量的15％，保留用于资助进一步发展。生态系统开发：总供应量的30％，其中5％分配给ENA空投。值得注意的是核心贡献者和投资者分配都不会在 1 年悬崖之前解锁。

Tokenomics Analysis

代币经济学分析

Ethena's tokenomics align with industry best practices, featuring a balanced distribution among various stakeholders:

Ethena 的代币经济学符合行业最佳实践，在各个利益相关者之间实现平衡分配：

• 45% Team Allocation: This allocation supports the core team responsible for Ethena's development and execution.
• 70% Insider Allocation: Including both the team allocation and the investor allocation, this ensures sufficient funding and alignment of interests.
• 30% Ecosystem Development: This allocation fuels the growth and adoption of the Ethena ecosystem.

ENA Airdrop

45% 团队分配：此分配支持负责 Ethena 开发和执行的核心团队。70% 内部人员分配：包括团队分配和投资者分配，这确保了充足的资金和利益协调。30% 生态系统开发：此分配燃料Ethena 生态系统的发展和采用。ENA 空投

A total of 750 million ENA tokens have been allocated for the airdrop, with 4% (30 million ENA) reserved for Milady, Remilio, and Schizoposter NFT holders. The remaining 720 million ENA will be distributed proportionally to Shard Campaign participants, equating to approximately 501 shards per ENA token.

此次空投共分配了 7.5 亿个 ENA 代币，其中 4%（3000 万个 ENA）预留给 Milady、Remilio 和 Schizoposter NFT 持有者。剩余的 7.2 亿个 ENA 将按比例分配给分片活动参与者，相当于每个 ENA 代币约 501 个分片。

Based on the average pre-market price of roughly $0.672, each shard is valued at approximately $0.001341, assuming a linear distribution.

根据约 0.672 美元的平均上市前价格，假设呈线性分布，每个分片的价值约为 0.001341 美元。

ENA Utility

ENA 实用程序

As a governance token, ENA empowers holders to actively participate in shaping the future of the Ethena protocol. ENA holders will have voting rights on proposals related to:

作为一种治理代币，ENA 使持有者能够积极参与塑造 Ethena 协议的未来。 ENA 持有者将对以下相关提案拥有投票权：

• Sats Campaign
• Shard Campaign
• Protocol Upgrades

Sats Campaign: Season 2

Sats 活动分片活动协议升级Sats 活动：第 2 季

The second season of the Shard Campaign, known as the Sats Campaign, commences immediately after the TGE. This campaign aims to integrate Bitcoin (BTC) as a backing asset for Ethena's USDe stablecoin. It will run until September 2nd or until the USDe supply reaches $5 billion.

碎片活动的第二个赛季（称为 Sats 活动）在 TGE 后立即开始。该活动旨在将比特币 (BTC) 整合为 Ethena 的 USDe 稳定币的支持资产。它将持续到 9 月 2 日，或者直到 USDe 供应量达到 50 亿美元。

Conclusion

结论

Ethena's successful Shard Campaign and upcoming TGE represent a major milestone in the project's journey. With strong market anticipation, immediate T1 CEX listings, and a well-defined token distribution and utility, ENA is poised to play a significant role in the evolving decentralized finance landscape. As the project continues to execute its ambitious roadmap, ENA holders can anticipate an active and rewarding governance process that will shape Ethena's future.

Ethena 成功的分片活动和即将推出的 TGE 代表了该项目旅程中的一个重要里程碑。凭借强烈的市场预期、立即在 T1 CEX 上市以及明确的代币分配和实用性，ENA 有望在不断发展的去中心化金融领域发挥重要作用。随着该项目继续执行其雄心勃勃的路线图，ENA 持有者可以预见一个积极且有益的治理流程，这将塑造 Ethena 的未来。