Ethena, known for its decentralized stablecoin project, has completed a $100 million private token sale. The funds will be used to create a new blockchain and introduce a traditional finance (TradFi)-focused token.
Details on Ethena's token sale
In December 2024, Ethena completed a private sale of its governance token Ethena (ENA) at an average price of $0.4. Investors include major industry players like Franklin Templeton, F-Prime Capital, Dragonfly Capital Partners, Polychain Capital, and Pantera Capital Management.
Partnership with World Liberty Financial
In late 2024, Ethena entered into a partnership with World Liberty Financial (WFLI), a DeFi project backed by U.S. President Donald Trump. The partnership will see sUSDe integrated into WFLI's Aave instance, allowing users to deposit USDe and earn rewards in sUSDe and WLF token.
Future plans from Ethena Labs
Ethena Labs founder Guy Young previously announced plans for iUSDe — a product aimed at regulated financial institutions. The upcoming iUSDe token will introduce a 'simple wrapper contract' adding token-level restrictions, making it usable by traditional financial entities. Development of iUSDe is planned for the first quarter of 2025.
The $100 million token sale marks a significant step for Ethena in realizing its ambitious plans to expand into the traditional finance sector. The new blockchain and TradFi token are expected to strengthen the project's market position.
