Ethena Labs will soon execute one of the largest airdrops in the crypto market to further its decentralization. The ENA token airdrop is scheduled for April 2, while trading on crypto exchanges will also commence on the same day.

According to Ethena Labs, eligible participants in the Shard Campaign will be airdropped 750 ENA tokens, representing 5% of the total supply of 15 million tokens.

The upcoming ENA distribution follows the successful launch of Ethena's mainnet in February and signals the completion of the Shard Campaign. Users have until April 1 to engage and accumulate "shards" before being able to claim ENA tokens from April 2.

ENA Airdrop: Eligibility Criteria

As outlined by Ethena Labs, users' eligibility for the airdrop will depend on the amount of shards accumulated up to the snapshot date of April 1. Participation requires holding staked USDe, and participants who unstake or sell USDe before the specified date will not qualify for the ENA airdrop.

Despite a security exploit on DeFi protocol Prisma Finance that necessitated a 21-day lock lift on the mkUSD<>USDe pool on Ethena, users are assured that withdrawing will not result in loss of shards or accrued rewards.

The top 2,000 wallets eligible for the airdrop will receive 50% of their allocation immediately, with the remaining 50% subjected to a 6-month vesting period. Other qualified wallets will gain full access to their airdropped tokens on April 2.

Source: The Bit Times