ENA
ENA Rank #80
DeFiGovernance
₹15.70
▼ 7.91%
24h
Market Cap
₹150,087,596,875
24h Volume
₹17,582,495
All-Time High
₹145.30
All-Time Low
₹6.72
Circ. Supply
9,560,937,500
of 15,000,000,000 max
Fully Diluted
₹235,470,000,000
Price Chart
24h Price Range
INR
₹15.68
₹17.46
Overview
About ENA
Ethena is a protocol behind the USDe synthetic dollar, using hedged crypto positions to generate yield and maintain price stability. Its token, ENA, is used for governance over the protocol.
Ethena Labs was founded by Guy Young, a former hedge fund investor, inspired by a widely read essay on creating a crypto-native dollar from hedged positions. Launched in 2024, it quickly became one of the fastest-growing protocols in DeFi history.
The protocol issues USDe, a synthetic dollar backed by crypto assets hedged with equal short positions in perpetual futures, capturing funding payments as yield. Ethena also runs USDtb, a Treasury-backed stablecoin, and is developing Converge, a chain focused on institutional settlement of its dollar products.
ENA governs the Ethena protocol and can be staked, with holders directing risk parameters, reserve policy, and ecosystem incentives. As the governance asset over one of the largest synthetic dollar systems, its value is linked to both USDe's growth and the protocol's share of the yield it generates.
Key Facts
Market Rank#80
Max Supply15,000,000,000
Circulating9,560,937,500 ENA
SymbolENA
