What is ENA

1. Project Introduction
Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money, which does not rely on the traditional banking system infrastructure and offers a globally accessible dollar-denominated instrument of savings. Its primary product is the Delta-neutral synthetic dollar, USDe, which is inspired by BitMEX founder Arthur Hayes. Arthur wrote an article titled "Dust on Crust" on March 2023, outlining the idea of the potential Satoshi Nakamoto Dollar, that is, creating a stablecoin backed by an equal amount of longs in the BTC spot markets and shorts in the futures market. Ethena is a variation of this scheme that uses the synthetic dollar USDe for delta-hedging with staked Ethereum to provide the first censorship-resistant, scalable, and stable crypto-native currency solution.
2. Team & Investment Info
Team Members: Guy Young is the founder and CEO of Ethena. Elliot Parker is Head of Product Management at Ethena Labs and former Product Manager at Paradigm. He graduated from the Australian National University. Seraphim Czecker is Head of Growth at Ethena. He was Head of Risk at Euler Labs and an Emerging Markets FX Trader at Goldman Sachs. Conor Ryder is Head of Research at Ethena Labs and former Research Analyst at Kaiko. He graduated from University College Dublin and Gonzaga College.
Funding: On July 17, 2023, crypto startup Ethena raised $6 million in a seed funding round led by Dragonfly with support from exchanges like Deribit, Bybit, OKX, Gemini, and HTX, as well as BitMEX founder Arthur Hayes and his family office. On February 16, 2024, Ethena Labs completed a $14 million strategic funding round at a $300 million valuation co-led by Dragonfly, Brevan Howard Digital, and Maelstrom, which is BitMEX founder Arthur Hayes' family office, with contributions from PayPal Ventures, Franklin Templeton, Avon Ventures, Binance Labs, Deribit, Gemini, and Kraken.
3. Social Media URLs
X: https://x.com/ethena_labs
Telegram: https://t.me/ethena_labs
Discord: https://discord.gg/ethena
4. Token Info
Token Symbol: ENA
Total Supply: 15,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Dynamic mechanism
Contract Address: 0x57e114B691Db790C35207b2e685D4A43181e6061
Token Distribution:
Binance Launchpool: 2%, 300,000,000 ENA
Investors: 25%, 3,750,000,000 ENA
Team: 30%, 4,500,000,000 ENA
Foundation: 15%, 2,250,000,000 ENA
Ecosystem: 28%, 4,200,000,000 ENA
For more details, refer to the white paper: https://ethena-labs.gitbook.io/ethena-labs
5. Related Links
Official Website: https://www.ethena.fi/
LinkedIn: https://www.linkedin.com/company/ethena-labs/
GitHub: https://github.com/ethena-labs
Other Info: GitBook: https://ethena-labs.gitbook.io/ethena-labs/
https://www.rootdata.com/zh/Projects/detail/Ethena?k=ODU4Mw%3D%3D

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.