ENA

Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. The idea behind the protocol is to address the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.

ENA is Ethena’s native utility token and is used for governance on the platform. Holders can use the ENA tokens to vote on the protocol's governance decisions.

Ethena launched the ENA token bolster its decentralized governance framework. Users of Ethena's USDe, a digital currency created by the protocol, stand a chance to receive an airdrop comprising 750 million ENA tokens. This allocation represents 5% of the entire token supply. With the distribution of these governance tokens to the community, the project aims to engage its users in the decision-making processes that will shape the future direction of the protocol.

Currently, the total supply of ENA is 15,000,000,000 and the initial circulating supply is 1,425,000,000 (~9.5% of the total token supply). The live price of ENA is updated in real time on Binance.

Listed: 2026-08-27 06:57 UTC · Market data updated: 2026-10-29 10:45 UTC

No verified tokenomics note has been published yet.