Ethena

Ethena is a synthetic dollar protocol built on the Ethereum blockchain. It aims to provide a crypto-native stablecoin, USDe, which is designed to be scalable, stable, and censorship-resistant. Ethena's core strength lies in its innovative approach to maintaining USDe's peg to the US dollar through delta hedging of staked Ethereum positions. Ethena's USDe is backed by liquid staking derivatives of Ethereum and short positions in Ethereum futures on various exchanges. The protocol also features a yield-bearing "Internet Bond" called sUSDe, which allows users to earn a yield derived from staking rewards and futures funding rates. Experimental Crypto assets might be riskier than other crypto assets and require careful consideration. Further details of these risks may be found <a class="link" href="https://help.etoro.com/s/article/What-are-Experimental-cryptoassets-on-eToro?language=en_GB" target="_blank">here</a>. Track the share price of ENA by adding it to your eToro watchlist.