Ethena governance token ENA launches airdrop! MakerDAO proposes investing $600 million in DAI into USDe

Ethena recently stated that the airdrop of the governance token "ENA" will begin today (4/2). It is also reported that the decentralized stablecoin protocol MakerDAO is considering airdropping a token worth US$600 million. Stablecoin DAI is allocated to USDe and USDe is pledged through DeFi lending protocol Morpho Labs.

USDe’s annual return rate is as high as 35.4%

Regarding the development of stablecoin issuer Ethena that does not rely on traditional finance, the stablecoin USDe issued by it is based on the user’s collateral (ETH) ) to hedge price risk, and use perpetual contract shorting to maintain its peg to the U.S. dollar. Delta hedging ensures that the gains or losses of any asset are offset by each other.

According to its website, Ethena’s collateral includes stETH, WBETH, mETH, ETH and 27% USDT. The current total locked position is US$1.56 billion, with an annualized return rate of 35.4%. Accounting for approximately 1.74% of the total supply of Ethereum stablecoins.

MakerDAO proposal to invest 600 million USD in USDe

MakerDAO proposal proposes to invest 600 million USD of DAI in USDc, but with the development of Ethena, the scale will be gradually expanded. With the total locked-up volume of USDc currently at US$15.6 billion, MakerDAO’s US$600 million will increase the supply of USDe. At the same time, MakerDAO’s $800 million locked position will be raised using USDe.

Ethena’s Seraphim Czecker revealed on X that although it is currently in proposal status, a move like the one confirmed by the MakerDAO community will lock in Ethena’s total value “in line with internal expectations.”

The governance token "ENA" launches airdrop

Ethena will airdrop the governance token "ENA" today (4/2). This time, 750 million ENA tokens will be airdropped, accounting for 5% of the total supply.

Binance Launchpool also ended this morning, and ENA tokens will be listed at 4 p.m., including ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading pairs.

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