Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument - the 'Internet Bond'. Ethena's synthetic dollar, USDe, will provide the first censorship resistant, scalable and stable crypto-native solution for money achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently onchain and free to compose throughout DeFi.

  • Airdrop

About Ethena

Ethena has raised $14M in funding with backing from investors like Binance, Dragonfly, and Wintermute. They don’t have their own token except their own stablecoin USDe. They’ve launched a points system in the form of shards. Users who mint, provide liquidity and stake USDe will earn shards. Also, earn more shards for each referral. Users who collect shards may get an airdrop if they plan to launch their own governance token.

Step-by-Step Guide:

  1. Visit the Ethena app page.
  2. Connect your Ethereum wallet.
  3. Accept the terms and continue to the dashboard.
  4. You will need any one of the stablecoins like USDT, USDC, DAI, FRAX, etc. You can get it from Binance.
  5. Now go back to Ethena and click on “Buy”.
  6. Swap your stablecoins for USDe (Ethena’s synthetic dollar).
  7. Go to “Stake” and stake some USDe.
  8. Also, provide some liquidity to some of the available pools.
  9. You will earn points in the form of shards for doing the above tasks.
  10. Also, earn 10% of the shards from each referral.
  11. They don’t have their own governance token yet but are very likely to launch one in the future, as it is backed by industry leaders such as Binance, Dragonfly, Wintermuter and more.
  12. For more information regarding the campaign, read this article.
  13. Please note that there is no guarantee that they will launch their own token or do an airdrop to early users. It’s only speculation.