Victoria, Seychelles, April 1st, 2024, Chainwire

Bitget, a prominent cryptocurrency exchange and Web3 company, has introduced the listing of Ethena (ENA) token, the governance token for Ethena's synthetic crypto-native dollar protocol, on Launchpool. Users can stake BGB and USDT to farm ENA on this platform.

Ethena, as a synthetic dollar protocol running on Ethereum, offers a crypto-native alternative for money that does not rely on traditional banking systems. The protocol's synthetic dollar, USDe, is censorship-resistant, scalable, and stable, achieved through delta-hedging staked Ethereum collateral. This collateral is transparently backed on-chain, allowing for composability throughout DeFi.

With the release of Ethena, users will be able to access external AMM pools to acquire or sell USDe using stablecoin collateral like USDT or USDC. The backing mechanism for USDe will introduce the concept of an "Internet Bond" alongside the synthetic dollar, providing a yield-bearing, dollar-denominated savings instrument derived from staked Ethereum returns and funding available in the perpetual and futures markets.

Bitget Launchpool provides users with the opportunity to stake and earn tokens under user-friendly terms. By staking BGB or other coins in the Launchpool, users can earn free airdrops, rewards, and access to a significant prize pool. The projected ROI can be viewed on the Launchpool page, and users have the flexibility to withdraw staked assets into the broader DeFi ecosystem using the Bitget Wallet.

Bitget has expanded its market share in spot and derivatives trading among centralized exchanges, emphasizing investment opportunities in popular projects. With a wide range of trading pairs and tokens, including those from trending DeFi sectors, Bitget has become one of the top 10 crypto spot trading platforms. Additionally, Bitget Wallet supports over 100 mainnets and 250,000+ tokens, allowing for cross-chain trading between nearly 30 mainnets through Bitget Swap.

For more information about Bitget, visit their website. To participate in Ethena Launchpool, visit the Bitget webpage.

About Bitget

Established in 2018, Bitget is a leading cryptocurrency exchange and Web3 company with over 25 million users globally. The Bitget exchange offers innovative trading features like copy trading, aiming to help users trade more intelligently. Bitget Wallet, formerly known as BitKeep, is a multi-chain crypto wallet with various Web3 solutions such as wallet functionality, swap, NFT Marketplace, and DApp browser. Bitget collaborates with notable partners like Lionel Messi and PGL to promote crypto adoption.

For additional information, visit Bitget's website or their social media channels.

Contact

Bitget
PR Team
[email protected]