CandleFocus Ethena Labs Launches sENA, Boosting Liquidity and DeFi Rewards
2024-09-18
Author: Content Editor
Ethena Labs has made significant progress in the DeFi space with the launch of their native token, ENA, and its liquid receipt token, sENA. sENA allows users to maintain liquidity while holding their staked ENA, enabling participation in various DeFi applications without unstaking their tokens. sENA is compatible with several DeFi platforms and offers a high daily rewards multiplier. It also reallocates unvested ENA to sENA pools on a monthly basis, providing extra rewards to sENA holders. Furthermore, Ethena Labs has partnered with Coinbase Prime as its custodian service provider and integrated SOL in the Solana ecosystem with the launch of USDe. The cross-chain interfaces demonstrate Ethena Labs' commitment to building a flexible, multi-network DeFi ecosystem. Currently, ENA has seen an 8.10% increase in price, with a market cap above $440 million.
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