On April 2nd, the DeFi protocol Ethena Labs will initiate an airdrop of 750 million ENA governance tokens among participants of the Shard incentive program. The distributed coin volume will constitute 5% of the total emission at 15 billion. Users will receive tokens corresponding to the Shard points accumulated by April 1st. Assets must be claimed within 30 days. Unclaimed ENA will be redistributed among all airdrop participants in the future.
Ethena Labs is a protocol for the "synthetic dollar" USDe based on Ethereum. The coin is designed for passive income in the network and is not positioned as a stablecoin. It is envisaged that price stability will be achieved through risk hedging by selling ETH using perpetual swaps. The team also refers to USDe as an "internet bond," offering a dollar-nominated savings instrument focused on DeFi.
In March, CoinGecko specialists outlined how to interact with the protocol to increase chances of receiving the Ethena Labs airdrop. Following the initial token distribution, the team will immediately commence a second incentive campaign called Sats. It will last for 5 months or end upon reaching a $10 billion USDe capitalization, whichever comes first.
At the time of writing, the market supply of the Ethena Labs stablecoin has approached $1.4 billion. According to the team's statement, USDe has become the "fastest" among dollar-nominated assets, surpassing the $1 billion mark.
