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.
step by step guide
- Visit Ethena App Page: Visit the Ethena app page and connect your Ethereum wallet.
- Accept Terms and Continue: Accept the terms and proceed to the dashboard.
- Obtain Stablecoins: Obtain any stablecoin like USDT, USDC, DAI, FRAX, etc., from a platform like Binance.
- Buy USDe: Return to Ethena and click on “Buy,” then swap your stablecoins for USDe, Ethena’s synthetic dollar.
- Stake USDe: Go to the “Stake” section and stake some USDe.
- Provide Liquidity: Additionally, provide liquidity to available pools.
- Earn Shards: By completing the above tasks, you’ll earn points in the form of shards.
- Referral Bonus: Earn a 10% shard bonus from each referral.
- Future Governance Token: Ethena does not currently have its own governance token but is likely to launch one in the future, supported by industry leaders like Binance, Dragonfly, Wintermuter, etc.
- Campaign Details: Further information about the campaign can be found in a provided article.
- No Guarantee: There’s no guarantee that Ethena will launch its own token or conduct an airdrop for early users; it’s speculative.
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