Binance exchange announced Ethena (ENA) early this morning as its new and 50th Launchpool project. BNB and FDUSD staking transactions for ENA, the token of Ethena, for which Arthur Hayes, the famous trader and one of the founders of the BitMEX exchange, also provides consultancy support, will start tonight at 03.00 CET (March 30). Staking transactions will last 3 days. After this process, ENA will be opened to public listing. Public listing will begin on April 2 at 11 am ET.

Crypto trading pairs where ENA will be listed are; There will be ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY.

In ENA, which has a total supply of 15 billion, 300 million tokens are reserved for Launchpool. 240 million of this figure was allocated to BNB pool reward, and 60 million was allocated to FDUSD pool reward.

What is Ethena (ENA)?

ENA, a decentralized finance protocol created on the Ethereum blockchain, has a synthetic dollar called USDe. The current value of USDe, which had a market value of only 85 million dollars at the beginning of the year, is around 1.3 billion dollars.

Ethena’s synthetic dollar USDe provides its investors with fixed returns by using Lido’s stETH-style liquid staking tokens as custodial assets. In addition, these tokens are balanced with permanent short Ether positions on derivative exchanges to try to fix a permanent price of 1 dollar.

Airdrop of 750 million units will be made

Ethena will also airdrop up to 750 million ENA in total to its users who own USDe and lock their tokens (USDe) into the system. The process will end on April 1. Starting from April 2, users will be able to start claiming ENA tokens. After the airdrop, Ethena will make another airdrop for new incentives.

As of April 2, many other cryptocurrency exchanges are expected to list ENA.

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