Synthetic dollar issuer Ethena Labs has introduced the launch of claims for its new governance token ENA. The protocol, best known for its yield-earning USDe token, is aiming to distribute 750 million ENA tokens through an airdrop, which will bring 5% of the token's total supply into the market. Ethena Labs announced this initiative, inviting users to participate in the airdrop. Following the announcement, the price of ENA experienced an 8% surge. The token managed to achieve a significant market cap of over $890 million on Aug. 2, according to Coingecko data. At the heart of Ethena's offerings lies the USDe token, which acts as a "synthetic dollar" striving to maintain a stable value near one dollar. This is achieved through a unique combination of ether liquid staking tokens and short ether (ETH) perpetual futures positions. This approach has attracted not only individual investors but also institutions in the cryptocurrency field. Stablecoin issuer MakerDAO disclosed plans to assign 600 million DAI to Ethena's USDe token with the help of the defi lending protocol Morpho Labs. Ethena TVL growth has been meeting internal expectations, stated Seraphim Czecker, Ethena's Head of Growth, after the announcement of the MakerDAO collaboration. MakerDAO's confidence in Ethena and USDe comes from an analysis by BA Labs, a part of MakerDAO's advisory council, that observed significant user demand for the stablecoin. It recommended focusing on higher leverage USDe pools and allocating more of MakerDAO's DAI stablecoin in these areas. Meanwhile, Ethena has commenced a new phase of its airdrop on April 2, called the "Sats" campaign, focusing on onboarding BTC as a backing asset for USDe. By utilizing BTC perpetual futures, the project aims to access an additional $25bn of open interest for hedging purposes.