| General information | |
|---|---|
| Global rank: | 93 |
| Name: |
Ethena |
| Symbol: | ENA |
| Current coin price (KES): | 49.37 KSh |
| Last hour: | arrow_upward0.110 % |
| Last 24 hours: | arrow_downward-1.31 % |
| Last 7 days: | 38.42 %trending_up |
| Capitalisation (KES): | 93 877 118 305.54 KSh |
| Volume 24h (KES): | 21 141 207 031.35 KSh |
| Available supply: | 1 901 562 500.00 ENA |
| Total coin supply: | -1 ENA |
| Start date: | 2024-03-05 |
Ethena/Kenyan Shilling (ENA/KES) price chart
Ethena/Kenyan Shilling (ENA/KES) capitalisation and volume charts
Ethena is a digital currency project that was announced as the 50th project on the Binance Launchpool. It operates on the Ethereum blockchain and is described as a synthetic dollar protocol. This digital asset is designed to provide users with a mechanism to earn tokens through a process known as "farming," which involves staking cryptocurrencies. The project is notable for its Launchpool, where users can stake BNB and FDUSD to farm ENA tokens.
The primary use of Ethena revolves around its function within the DeFi (Decentralized Finance) ecosystem, particularly in relation to stablecoin issuance and savings tools. Ethena introduces a stablecoin solution that is independent of traditional banking systems, focusing on stability and utility within various DeFi applications. Additionally, it offers a product known as the Internet Bond, based on its USDe stablecoin, which is aimed at providing users worldwide with a blockchain-based USD savings instrument. This product seeks to combine profits from Liquid Staking Tokens (LSTs) and the futures and perpetual swap markets, marking it as a novel savings tool within the blockchain space.
Ethena was developed by a Portugal-based startup, backed by a $6 million seed funding round.