Ethena (ENA) Tokenomics

Ethena (ENA) Tokenomics

Få vigtig indsigt i Ethena (ENA), herunder dens tokenforsyning, distributionsmodel og markedsdata i realtid.
Siden er sidst opdateret: 2026-03-09 11:13:59 (UTC+8)
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Ethena (ENA) Tokenomics og prisanalyse

Udforsk vigtige tokenomics- og prisdata for Ethena (ENA), herunder markedsværdi, forsyningsoplysninger, FDV og prishistorik. Forstå tokenens aktuelle værdi og markedsposition på et øjeblik.

Markedsværdi:
$ 862.38M
$ 862.38M$ 862.38M
Samlet udbud
$ 15.00B
$ 15.00B$ 15.00B
Cirkulerende forsyning
$ 8.49B
$ 8.49B$ 8.49B
FDV (fuldt udvandet værdiansættelse):
$ 1.52B
$ 1.52B$ 1.52B
Alle tiders Høj:
$ 1.521
$ 1.521$ 1.521
Alle tiders Lav:
$ 0.09427708428687775
$ 0.09427708428687775$ 0.09427708428687775
Nuværende pris:
$ 0.10155
$ 0.10155$ 0.10155

Ethena (ENA) Information

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.

Dybdegående Token-struktur af Ethena (ENA)

Dyk dybere ned i, hvordan ENA tokens udstedes, tildeles og låses op. Dette afsnit fremhæver de vigtigste aspekter af tokenets økonomiske struktur: nytteværdi, incitamenter og optjening.

Ethena is a decentralized synthetic dollar protocol built on Ethereum that issues USDe, a crypto-native stablecoin. The protocol's governance and utility are centered around the ENA token, which was launched on April 2, 2024. The following sections detail the economic structure of the Ethena ecosystem.

Issuance Mechanism

The Ethena ecosystem involves two primary assets: the USDe synthetic dollar and the ENA governance token.

  • USDe Issuance: USDe is minted through a delta-neutral mechanism. Whitelisted users deposit collateral assets—such as stETH, BTC, or SOL—into the protocol. Ethena then opens a corresponding 1x short perpetual position on centralized exchanges (CEXs) to hedge the price risk of the collateral. This ensures the value of the backing remains stable in USD terms.
  • ENA Issuance: ENA is an ERC-20 token with a total supply of 15,000,000,000. The protocol includes a "mint" function that allows the contract owner to mint additional tokens, though this is restricted by a MAX_INFLATION variable. This function can only be called once every 365 days. Following the initial launch, no additional tokens can be minted until at least April 2, 2025.

Allocation Mechanism

The total supply of 15 billion ENA tokens is distributed across several key stakeholder groups to align long-term interests and support ecosystem growth.

CategoryPercentage of Total SupplyToken Amount
Core Contributors30.00%4,500,000,000
Ecosystem Development28.00%4,200,000,000
Investors25.00%3,750,000,000
Foundation15.00%2,250,000,000
Binance Launchpool2.00%300,000,000

The Ecosystem Development portion includes allocations for multiple seasons of "Rewards Campaigns." For instance, 5% of the total supply was allocated to the first season (Shard Campaign), and the total allocated for the first and second seasons combined reached 10%.

Usage and Incentive Mechanism

The Ethena protocol utilizes a multi-tiered incentive system to drive adoption of USDe and provide utility for ENA.

  • Governance: ENA holders can vote on critical protocol parameters, including risk management frameworks, USDe collateral composition, exchange and custodian exposure, and the distribution of yield between stakers and the Reserve Fund.
  • Yield Generation (sUSDe): Users can stake USDe to receive sUSDe, a reward-bearing token. The yield is derived from two sources: the staking rewards of the underlying collateral (e.g., stETH) and the funding rates from the short perpetual positions used for hedging.
  • Points Campaigns (Shards and Sats): Ethena incentivizes specific behaviors through "Points" campaigns. Users earn "Shards" (Season 1) or "Sats" (Season 2 and 3) by holding USDe, locking USDe, providing liquidity on platforms like Curve or Uniswap, or engaging with partner protocols like Pendle and Mantle.
  • sENA Rewards: Staked ENA (sENA) serves as a liquid receipt token for locked ENA. It is designed to accrue value from ecosystem applications and earn rewards, such as unclaimed ENA from previous airdrop distributions.

Locking and Unlocking Mechanisms

Ethena employs strict vesting and cooldown periods to manage circulating supply and ensure protocol stability.

Token Vesting and Cliffs

Both Core Contributors and Investors are subject to a one-year cliff. No tokens from these allocations were unlocked prior to this cliff. Following the cliff, tokens vest linearly on a monthly basis over the subsequent three years.

Staking Cooldown

For users interacting with the USDe staking contract, there is a mandatory seven-day cooldown period. When a user initiates an unstaking or unlocking process for sUSDe or locked USDe, they must wait seven days before the underlying USDe can be withdrawn. The protocol's admin role has the authority to adjust this cooldown duration up to a maximum of 90 days.

Airdrop Vesting

Participants in the Shard Campaign who were in the top 2,000 of the leaderboard were subject to a six-month linear vesting period for 50% of their ENA airdrop claims.

Unlocking Schedule

The ENA token unlock schedule features significant monthly events as the post-cliff linear vesting continues. Below are the projected unlock events for Ethena through early 2028.

Unlock DateUnlocked Amount (ENA)% of Circulating Supply
2028-03-06171,875,0002.02%
2028-02-06332,986,1113.92%
2028-01-06332,986,1113.92%
2027-12-06332,986,1113.92%
2027-11-06332,986,1113.92%
2027-10-06332,986,1113.92%
2027-09-06332,986,1113.92%
2027-08-06332,986,1113.92%
2027-07-06332,986,1113.92%
2027-06-06332,986,1113.92%

Ethena (ENA) Tokenomics: Nøgletal forklaret og use cases

At forstå tokenomics for Ethena (ENA) er afgørende for at analysere dets langvarige værdi, bæredygtighed og potentiale.

Nøgletal og hvordan de beregnes:

Samlet udbud

Det maksimale antal ENA tokens, der er blevet eller nogensinde vil blive oprettet.

Cirkulerende forsyning

Antallet af tokens, der i øjeblikket er tilgængelige på markedet og i offentlige hænder.

Maksimal Forsyning

Det hårde loft for, hvor mange ENA tokens der kan være i alt.

FDV (fuldt udvandet værdiansættelse):

Beregnet som aktuel pris × maksimalt udbud, hvilket giver en fremskrivning af den samlede markedsværdi, hvis alle tokens er i omløb.

Inflationsrate:

Afspejler, hvor hurtigt nye tokens introduceres, hvilket påvirker knaphed og langsigtede prisbevægelser.

Hvorfor er disse målinger vigtige for trader?

Høj Cirkulerende forsyning = større likviditet.

Begrænset maksimal forsyning + lav inflation = potentiale for langsigtet prisstigning.

Gennemsigtig token-distribution = større tillid til projektet og mindre risiko for centraliseret kontrol.

Høj FDV med lav nuværende markedsværdi = mulige overvurderingssignaler.

Nu hvor du forstår ENA's tokenomics, kan du udforske ENA tokens live-pris!

Sådan køber du ENA

Er du interesseret i at tilføje Ethena (ENA) til din portefølje? MEXC understøtter forskellige metoder til at købe ENA, herunder kreditkort, bankoverførsler og peer-to-peer-handel. Uanset om du er nybegynder eller professionel, gør MEXC det nemt og sikkert at købe krypto.

Ethena (ENA) Prishistorik

Ved at analysere kurshistorikken for ENA hjælper man brugerne med at forstå tidligere markedsbevægelser, vigtige støtte-/modstandsniveauer og volatilitetsmønstre. Uanset om du sporer all-time highs eller identificerer trends, er historiske data en afgørende del af prisprediktion og teknisk analyse.

ENA Prisprediktion

Vil du vide, hvor ENA måske er på vej hen? Vores ENA prisprediktionsside kombinerer markedssentiment, historiske tendenser og tekniske indikatorer for at give et fremadskuende perspektiv.

Hvorfor skal du vælge MEXC?

MEXC er en af verdens bedste kryptobørser, som millioner af brugere på verdensplan har tillid til. Uanset om du er nybegynder eller professionel, er MEXC din nemmeste vej til krypto.

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Ansvarsfraskrivelse

Tokenomics-data på denne side er fra tredjepartskilder. MEXC garanterer ikke for dens nøjagtighed. Foretag grundig research, før du investerer.

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