Ethena Labs, the decentralized finance (DeFi) protocol that gives the $1.3 billion yield-earning USDe, has opened claims for its new governance token (ENA).
In a publish on X on Tuesday, Ethena invited holders of USDe to assert their share of the airdrop of 750 million ENA tokens, equating to five% of the full provide, which is about to record on centralized exchanges.
Following the graduation of the airdrop, ENA rose over 8% to commerce at round 64 cents, with a market cap of near $500 million, based on knowledge by CoinGecko.
Ethena plans to begin a marketing campaign with new incentives for the following part of the airdrop, based on a weblog publish final week.
The USDe token, which is known as a “artificial greenback,” gives yields to buyers by pairing ether liquid staking tokens with brief ether (ETH) perpetual futures place within the derivatives market to keep up a “tough goal” of $1 worth.
Learn Extra: Crypto Custodian Taurus Enlists Lido to Deliver Liquid Ethereum Staking to Swiss Banks
