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Crypto All-Starts>
$STARS Presale Raised Over. $300k in the First 24 Hours>
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Ethena is a crypto-native internet yield and synthetic dollar protocol designed to establish the first on-chain and censorship-resistant stablecoin - USDe. Its concept was envisioned by Arthur Hayes, founder and CEO of BitMEX, in his essay called "Dust on Crust”.
This concept precisely utilizes the Ethena yield, but using staked ETH as collateral, it allows users to contribute their LSTs, bake a USDe stablecoin, and at the same time earn APR from both the delta hedging strategy and rewards for staking ETH.
Recently, the company officially confirmed the release of its governance Ethena token and on 29th March 2024 announced listing and subsequently IEO on Bybit.
CoinLaunch Score:
Last update:
High
01 Apr 2024
Ethena - IEO Round on Bybit Overview
start date:
02 Apr 2024
end date:
09 Apr 2024
price:
N/A
tokens for sale:
15,000,000
Raise:
N/A
Min. Buy:
$100
Max. Buy:
$2,000
Industry:
Stablecoin
Lock-up:
Launchpad
No lock-up
Bybit Launchpad
How to join Ethena - IEO Round on Bybit?
To participate in the $ENA IEO on Bybit, users need to log in or sign up on Bybit, complete KYC verification, and acquire at least 100 USDT in their spot balance. Then, they need to visit the Bybit launchpool page, register for the Ethena token IEO, and stake either $USDT or $ENA.
The IEO itself will take place after the initial listing of $ENA on Bybit on April 2, 2024, at 08:00 (UTC) and will conclude on April 9 at 08:00 (UTC), allocating 15,000,000 $ENA as a reward for participants.
Unlike the Binance launchpool, on Bybit, the 15M $ENA pool will be equally distributed between both the USDT and ENA staking pools, rewarding stakers based on their share in the pool daily.
There are also minimum and maximum requirements for both ENA and USDT pools stakers:
ENA pool:
- Minimum Staking Amount: 100 ENA;
- Maximum Staking Amount: 5,000 ENA.
USDT pool:
- Minimum Staking Amount: 100 USDT;
- Maximum Staking Amount: 2,000 USDT.
Read more about the Ethena IEO in Bybit’s official announcement.
❗️PRO TIP: Before participating in the event, make sure you are aware of the risks related to the $ENA staking pool, as newly listed tokens might be more volatile and risky than others. If you consider it too risky, you can try to diversify risks by staking USDT tokens only or splitting your funds between two different pools.
Good Luck!
Step-by-step Guide
Log in or Sign up on Bybit;
Complete KYC verification;
Acquire at least 100 USDT on your spot balance;
Visit the Bybit Launchpool page;
Stake either $ENA or $USDT;
Receive your tokens.
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