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Bitget Announces Ethena (ENA) Token Listing On Launchpool

Bitget Announces Ethena (ENA) Token Listing On Launchpool

Bitget, a prominent cryptocurrency exchange and Web3 company has recently added the Ethena (ENA) token to its list of supported cryptocurrencies. ENA serves as the governance token for Ethena, a protocol for the synthetic crypto-native dollar. You can find the token on Launchpool, where users can stake BGB and USDT to farm ENA.

Ethena is a synthetic dollar protocol built on Ethereum, offering a crypto-native solution for money that doesn’t depend on traditional banking system infrastructure. Ethena has introduced a synthetic dollar called USDe, the first of its kind to be censorship-resistant, scalable, and stable. This achievement has been made possible through delta-hedging staked Ethereum collateral. USDe is backed by assets openly recorded on the blockchain and can be freely used in DeFi. The stability of the USDe peg is maintained by utilizing delta hedging derivatives positions backed by protocol-held collateral.

Ethena’s users can utilize external AMM pools to buy or sell USDe using stablecoin collateral like USDT or USDC. The USDe mechanism will enable the creation of the first “Internet Bond” alongside the synthetic dollar. This bond will provide a crypto-native, yield-bearing, dollar-denominated savings instrument. It is derived from staked Ethereum returns and takes advantage of the funding and basis spread available in perpetual and futures markets.

Bitget Launchpool offers a convenient way for users to stake and earn tokens with terms and conditions that are easy to understand and follow. By participating in the Launchpool and staking BGB or other coins, users can have the opportunity to receive free airdrops and earnings and gain access to a significant prize pool. You can find the estimated ROI on the Launchpool page, and you have the option to withdraw your staked assets into the broader DeFi ecosystem using Bitget Wallet.

To join Ethena Launchpool, please visit the following link: https://www.bitget.com/support/articles/12560603807489.

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