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What is Ethena

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Ethena is a synthetic dollar protocol built on Ethereum, providing a crypto-native solution for money that isn't reliant on traditional banking infrastructure. It also offers a globally accessible dollar-denominated savings instrument called the 'Internet Bond'. The protocol's synthetic dollar, USDe, will be the first censorship-resistant, scalable, and stable crypto-native solution for money. This will be achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently onchain and free to use throughout DeFi.

Ethena is conducting an airdrop, distributing 5% of the total supply of ENA tokens to users who have interacted with Ethena and collected shards. Users who collected shards until April 1st, 2023 are eligible for the airdrop.

Season 2 of the airdrop campaign has commenced, and it will airdrop at least 10% of the total supply. This campaign will continue until September 2nd, 2024, or until the USDe supply hits $5 billion. In Season 2, “Shards” have been replaced with “Sats”. Users who mint, provide liquidity, and stake USDe will continue earning sats and be eligible for future airdrops. Additionally, you can earn more sats for each referral and by locking ENA.

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How to join Ethena airdrop?

Visit the Ethena app page.

Connect your Ethereum wallet.

Now click on “Claim $ENA“.

If you’re eligible, you will be asked to go to Liquifi to claim your tokens.

Eligible users have until May 2nd, 2024, to claim the tokens, or else they will be redistributed to the community.

Season 2 of the airdrop campaign is currently live, and “Shards” have been replaced with “Sats”.

Go back to Ethena and connect your wallet.

You will need any one of the stablecoins like USDT, USDC, DAI, FRAX, etc. You can get it from Binance.

Now go back to Ethena and click on “Buy”.

Swap your stablecoins for USDe (Ethena’s synthetic dollar).

Go to “Stake” and stake some USDe.

Also, provide some liquidity to some of the available pools.

Lock ENA for a sats boost.

You will earn points in the form of sats for doing the above tasks.

USDe is also now live on Solana. Connect your Solana wallet to the Sats page and delegate an Ethereum wallet where would you like your Sats to go to.

Now earn 5x Sats for sUSDe collateral and 20x for USDe collateral on Kamino. Also, earn 30x sats per day by providing liquidity to USDe and sUSDe pairs vs PYUSD on Orca.

Also, earn 10% of the sats from each referral.

Season 2 ends on September 2nd, 2024, or when the USDe supply hits $5 billion.