Ethna Labs plans to launch a major airdrop of 750 million governance tokens, or ENA. Just 5% of users possess shards, meaning that tokens represent the digital units that signify their involvement with the DeFi protocol. If approved, the beneficiaries must own USDe, a stablecoin that can be easily converted into equivalent US dollars.
Users’ USDE will be accumulated by April 1st, based on the shard accumulation. Token airdrops will be contingent upon holders maintaining their USDE holdings in the Ethena system. A huge amount of support and shards were gathered for protocol work through the Ethan Shard Campaign. Moreover, it greatly raised $USDT compliance to $1.3 billion.
The $20.5 million in funding that was poured over the course of two rounds in less than a year indicates that Ethena Labs is seeing an increase in investments. The token creator is valued at $300 million by organizations such as Bybit, Dragonfly Finance, OKX, Galaxy Digital, and Binance Labs. The announcement of the air drop shows that Eth Knowledge Labs has really run on the platform of incentivizing user participation during the DeFi system’s expansion phase.
