“Bitget Launches Ethena (ENA) on Launchpool: A New Ethereum-based Synthetic Dollar Protocol”


In Victoria, Seychelles, on April 1st, 2024, Chainwire – Bitget, a leading cryptocurrency exchange and Web3 company, announced the listing of Ethena (ENA) token. ENA is the governance token for Ethena, a protocol for a synthetic crypto-native dollar. The token is now available on Launchpool, where users can stake BGB and USDT to farm ENA.

Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money without relying on traditional banking system infrastructure. Its synthetic dollar, called USDe, is the first censorship-resistant, scalable, and stable cryptocurrency achieved by delta-hedging staked Ethereum collateral. USDe is fully backed transparently on-chain and can be freely composed throughout DeFi. The stability of USDe is guaranteed through the use of delta hedging derivatives positions against protocol-held collateral.

Ethena’s users will have access to external AMM pools to acquire or sell USDe with stablecoin collateral such as USDT or USDC. The protocol’s mechanism will also enable the creation of the first “Internet Bond,” a crypto-native, yield-bearing, dollar-denominated savings instrument derived from staked Ethereum returns and the funding and basis spread available in perpetual and futures markets.

Bitget Launchpool offers users the opportunity to stake and earn tokens with user-friendly terms and conditions. By staking BGB or other coins, users can earn free airdrops, earnings, and access to a substantial prize pool. The estimated ROI is available on the Launchpool page, and users have the flexibility to withdraw staked assets into the broader DeFi ecosystem with Bitget Wallet.

Since its establishment in 2018, Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, the platform is now one of the top 10 crypto spot trading platforms, with over 700 coins and 800 pairs, including tokens from trending DeFi sectors. In 2023, the platform added over 350 new listings, further diversifying investment options for users. Bitget Wallet supports over 100 mainnets and 250,000+ tokens, and its on-chain trading function, Bitget Swap, enables cross-chain trading between nearly 30 mainnets.

To participate in Ethena Launchpool, visit – https://www.bitget.com/support/articles/12560603807489

About Bitget:
Bitget, formerly known as BitKeep, is the world’s leading cryptocurrency exchange and Web3 company. With over 25 million users in 100+ countries and regions, Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features, including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget also collaborates with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL, to inspire individuals to embrace crypto.

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