Ethena (ENA)
Ethena is a derivative infrastructure provider designed to revolutionize Ethereum into the first crypto-native yield. It utilizes complex hedging techniques to bolster the liquidity of its stablecoin without reliance on the banking system.
The company’s ambition towards independence from the banking financial system has stirred up a lot of speculative rumors about the project among the investors and crypto community. In turn, the project concept and its initial idea got strong support from Arthur Hayes in his essay series called “Dust on Crust”.
Over the past year, Ethena Labs hosted several funding rounds, raising over $20.5M from tier 1 funds, such as Binance Labs, Dragonfly and others.
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