Ethena Airdrop

[cryptoaddictchie]

Hello everyone the new project Ethena just announced their token launch and airdrop for users who are supplied stablecoin on their platform.

All details were indicated on their announcement.

https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/uCBp9VeuLWs-ul1b6AOUAoMg5HBB_iizMIi-11N6nT8

Ive personally farm this project using some of my stables since it has a lot of top tier backer including Binance and OKX and some notable people. Its just same with some native stable with a good protocol, sounds like terra but the team is good to prove that they can manage a system like ethena.

They will release their airdrop on April 2 including tge.

[1714504523]

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[1714504523]

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[1714504523]

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[mk4]

sounds like terra but the team is good to prove that they can manage a system like ethena.

I'm not going to comment on the sustainability of it, but while it looks like Terra/Luna, it's definitely not like Terra/Luna when looking at the technicals. The APY is just high simply because of the open interest crypto has right now. (Ethena is delta neutral.)

As for the airdrop: I've been farming it, but knowing that the release is in like 4-5 days, not sure if it's worth farming today if you aren't yet.


EDIT: For those who like farming airdrops, check out https://Paldo.io (You're welcome).

[Husires]

I do not like projects that start with comparisons and saying that it is the highest profitable protocol in the industry in just 3 weeks. Also, promises that this project is great and setting conditions such as Do not participate in the campaign if your intention is to farm and dump a quick airdrop are two contradictory things. The article is full of promises. Whoever holds USDe and any disposal of it means losing your investment.



The chart shows that a large portion of the liquidity will be released in 2025 in one go, which means that the price will collapse severely, which is not the behavior of stable currencies.

[mk4]

The article is full of promises.

Can you show us which parts are "full of promises"?

Whoever holds USDe and any disposal of it means losing your investment.

USDe is pretty freakin liquid because of their thick Curve pools. While I'm not saying that a de-pegging event isn't going to happen, but it'll take a lot more money than just a few people to dump and de-peg it.

https://talkimg.com/images/2024/03/28/VHmU8.png

The chart shows that a large portion of the liquidity will be released in 2025 in one go, which means that the price will collapse severely, which is not the behavior of stable currencies.

Bruh that's the vesting schedule for the ENA token, not the USDe stablecoin lmao.



Note: I'm not even that bullish on Ethena, I'm just farming the airdrop.

[Husires]

Can you show us which parts are "full of promises"?

The beginning of the article focused on their achievements for a duration of just 6 weeks in total.

This represents the fastest USD-denominated asset to reach >$1bn supply ever in crypto. Ethena’s USDe supply is now:

>1.5x larger than the entire tokenized treasury RWA market

>3x larger than the entire onchain ETH open interest for every DEX combined

Higher than all stablecoins on Base, Blast, zkSync, Aptos and Starknet…combined.

Ethena also became the highest earning protocol in the industry in just 3 weeks, setting a new benchmark for DeFi interest rates, while growing the Reserve Fund to over $25m in a month.

Bruh that's the vesting schedule for the ENA token, not the USDe stablecoin lmao.

Yes, but at the beginning of 2025 you have Core+investors+foundaton distributions, which represent about 70% of the total distributions, while Ecosystem Development and Airdrops represent 30%, and the current one is 5%.
If the ENA token collapses, USDe will be harmed just as happened with Luna <> UST

[mk4]

The beginning of the article focused on their achievements for a duration of just 6 weeks in total.

This represents the fastest USD-denominated asset to reach >$1bn supply ever in crypto. Ethena’s USDe supply is now:

>1.5x larger than the entire tokenized treasury RWA market

>3x larger than the entire onchain ETH open interest for every DEX combined

Higher than all stablecoins on Base, Blast, zkSync, Aptos and Starknet…combined.

Ethena also became the highest earning protocol in the industry in just 3 weeks, setting a new benchmark for DeFi interest rates, while growing the Reserve Fund to over $25m in a month.

Those aren't even promises, those are literally what they've currently achieved lol. There's a huge difference between "achievements" and "promises".

Yes, but at the beginning of 2025 you have Core+investors+foundaton distributions, which represent about 70% of the total distributions, while Ecosystem Development and Airdrops represent 30%, and the current one is 5%.
If the ENA token collapses, USDe will be harmed just as happened with Luna <> UST

The ENA token has literally ZERO thing to do with the sustainability of USDe; as the USDe is not backed by the ENA token. The ENA token is literally non-existent right now but yet the USDe token is $1. Their strategy is to have delta-neutrality with PERPs.

Bruh at least take a quick read of the docs before you criticize it.

[Coin_trader]

Hello everyone the new project Ethena just announced their token launch and airdrop for users who are supplied stablecoin on their platform.

All details were indicated on their announcement.

https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/uCBp9VeuLWs-ul1b6AOUAoMg5HBB_iizMIi-11N6nT8

Ive personally farm this project using some of my stables since it has a lot of top tier backer including Binance and OKX and some notable people. Its just same with some native stable with a good protocol, sounds like terra but the team is good to prove that they can manage a system like ethena.

They will release their airdrop on April 2 including tge.

I know I’m late to this airdrop and I’m not an airdrop believer either but I have a lot of stablecoins sitting on my wallet right now along with my Bitcoin that I don’t move for a long time due to Bullrun fever.

How do you guys knew if there’s a potential airdrop? Do you have a group which you share this kind of potential airdrop? I want to take a minimal risk on this trend but I’m not updated anymore on who or what to follow because I cut-off all my social media connection when I become busy to my personal business. Nice to see that there’s still worthy airdrop until now. Can we PM?

[Husires]

Those aren't even promises, those are literally what they've currently achieved lol. There's a huge difference between "achievements" and "promises".

Because it simply promises more profit. Just like the saying, the price of X token increased by 100% during the first week and there will be an airdrop soon. Are these achievements or promises of more profits?

The ENA token has literally ZERO thing to do with the sustainability of USDe; as the USDe is not backed by the ENA token. The ENA token is literally non-existent right now but yet the USDe token is $1. Their strategy is to have delta-neutrality with PERPs.

If I ask you about the growth of USDe token from $85 million to $1.3 billion, what is the reason in your opinion?

[benalexis12]

Can you show us which parts are "full of promises"?

The beginning of the article focused on their achievements for a duration of just 6 weeks in total.

This represents the fastest USD-denominated asset to reach >$1bn supply ever in crypto. Ethena’s USDe supply is now:

>1.5x larger than the entire tokenized treasury RWA market

>3x larger than the entire onchain ETH open interest for every DEX combined

Higher than all stablecoins on Base, Blast, zkSync, Aptos and Starknet…combined.

Ethena also became the highest earning protocol in the industry in just 3 weeks, setting a new benchmark for DeFi interest rates, while growing the Reserve Fund to over $25m in a month.

Bruh that's the vesting schedule for the ENA token, not the USDe stablecoin lmao.

Yes, but at the beginning of 2025 you have Core+investors+foundaton distributions, which represent about 70% of the total distributions, while Ecosystem Development and Airdrops represent 30%, and the current one is 5%.
If the ENA token collapses, USDe will be harmed just as happened with Luna <> UST

Your explanation is good here, @Husires, and there is a point in what you said, which is that if ENA does have a problem, it will for sure pull down the stablecoin USDe, which is really true,
like what happened in UST and Luna.

Now that the date is April 2, I am not even sure if I will still be a qualifier if, for example, I can participate this day with only a few days left. Is it possible to stake or farm in Athena?

[mk4]

Because it simply promises more profit. Just like the saying, the price of X token increased by 100% during the first week and there will be an airdrop soon. Are these achievements or promises of more profits?

Bruh a promise of releasing an airdrop isn't a promise of profit. Most if not all half-decent protocols literally don't "promise" profits because exploits exist, and they don't promise that an airdrop token will be worth something — because it's up to the traders/speculators (and the markets in general) what a token is worth.

And we're talking about the quotes you posted. Why are you changing the statements we're talking about lmao. Literally none of the quotes you posted earlier was about "promising profit" rather than just them saying they're going to release an airdrop in another part of the article.

If I ask you about the growth of USDe token from $85 million to $1.3 billion, what is the reason in your opinion?

Because people are farming points for the airdrop. This is totally irrelevant to the backing/sustainability of USDe. How is that relevant to the topic that USDe/Ethena is totally different from Terra/Luna technical-wise?

You literally can't even answer my questions, you're just doing ad-hominems. Just take the L — it's totally fine.

[tanqian5]

April 1st marks the end of the Ethena Shard Campaign, which ran for a duration of just 6 weeks in total. I didn't know anything about it before today. If there are better projects next time, please let me know as soon as possible.

[tvplus006]

It is noteworthy that a day later, after the team officially announced the end of the Shard Campaign, the price at the Whales premarket increased by 50%. Now the price for 1 million Shards is about $1500. This is a good profit, which in my case is equal to about 80% of the invested funds in 2 months.

[cryptoaddictchie]

I'm not going to comment on the sustainability of it, but while it looks like Terra/Luna, it's definitely not like Terra/Luna when looking at the technicals. The APY is just high simply because of the open interest crypto has right now. (Ethena is delta neutral.)

As for the airdrop: I've been farming it, but knowing that the release is in like 4-5 days, not sure if it's worth farming today if you aren't yet.

Yeah it kinda looks like them but I like the explanation the team does. Not really good on financial aspect especially rates and open interest, but this has been discuss on our group as one of the alpha so its a big one. Nice good to know Im not the only one, I did inject fund during the 2nd day of farming of Id bag some pretty nice rewards.

How do you guys knew if there’s a potential airdrop? Do you have a group which you share this kind of potential airdrop? I want to take a minimal risk on this trend but I’m not updated anymore on who or what to follow because I cut-off all my social media connection when I become busy to my personal business. Nice to see that there’s still worthy airdrop until now. Can we PM?

Well its kinda degen thing as well. Ive ape on this during the 2nd day cause Ive already seen some potential listing and possible tokens. Like they are backed by high tier Vc which we knew that will earn through tokens.

Honestly you arent late since they will start the season 2 on April 2 as well. My participation depends on the result of season 1 reward but whats gonna lose anyway while parking your stable for additional rewards? Right

[mk4]

Yeah it kinda looks like them but I like the explanation the team does. Not really good on financial aspect especially rates and open interest, but this has been discuss on our group as one of the alpha so its a big one. Nice good to know Im not the only one, I did inject fund during the 2nd day of farming of Id bag some pretty nice rewards.

Only one thing you need to take note in this case is that their backers are actually reputable and heavily knowledgeable when it comes to market sustainability in general — Coinbase Ventures, DragonFly, Arthur Hayes from BitMEX, etc. Safe to say this has far better staying power than Terra/Luna had because this can't really implode unless multiple exchanges blow up.

[cryptoaddictchie]

Only one thing you need to take note in this case is that their backers are actually reputable and heavily knowledgeable when it comes to market sustainability in general — Coinbase Ventures, DragonFly, Arthur Hayes from BitMEX, etc. Safe to say this has far better staying power than Terra/Luna had because this can't really implode unless multiple exchanges blow up.

Yeah of course surely these guys woulndt launch without being prepared. Well its too early too conclude anyway its still mystery for me how does ena token will play a role on the sustainability of their platform. But seeing the hype around airdrop, some definitely are there for the airdrop but the conditions they set is pretty wise too. Probably some who farmed shards and unstake when the end is near are probably crying out now on discord due to ineligibility.

[Bitstar_coin]

I know I’m late to this airdrop and I’m not an airdrop believer either but I have a lot of stablecoins sitting on my wallet right now along with my Bitcoin that I don’t move for a long time due to Bullrun fever.

How do you guys knew if there’s a potential airdrop? Do you have a group which you share this kind of potential airdrop? I want to take a minimal risk on this trend but I’m not updated anymore on who or what to follow because I cut-off all my social media connection when I become busy to my personal business. Nice to see that there’s still worthy airdrop until now. Can we PM?

If you are not airdrop believer why do you want to take such risk regardless?
You have so much stable sitting idle in your wallet when you could have already x50 or more of it just providing liquidity on most solana base airdrops.
If you really wanna know about airdrop farming, twitter is your friend, find all the airdrop degen and follow them, you will learn a thing or two.

[tvplus006]

...How do you guys knew if there’s a potential airdrop? Do you have a group which you share this kind of potential airdrop? I want to take a minimal risk on this trend but I’m not updated anymore on who or what to follow because I cut-off all my social media connection when I become busy to my personal business. Nice to see that there’s still worthy airdrop until now. Can we PM?

I joined the Shard Campaign on February 19th and made a post about it on the same day - https://bitcointalk.org/index.php?topic=5478634.msg63688300#msg63688300 I usually write in this thread about such projects in which I invest my own funds. But other participants also share their thoughts there, so join us, there are still many airdrops ahead)

[cryptoaddictchie]

Update guys, Ena just been announced on Binance launchpool. I think they are bound to be there as it is backed by Binance plus their hype is all around. Hope that airdrop tier is good and has potential profits. We wait for the shard conversion figure, I think its not bad considering only 100k joined the campaign plus there are some forfeited due to early unstake and unlocked.

https://www.binance.com/en/support/announcement/6c216f219f0e42adb1849759dee3fbd9?utm_source=AnnouncementTG&utm_medium=GlobalCommunity&utm_campaign=AnnouncementBot

[TastyChillySauce00]

It is noteworthy that a day later, after the team officially announced the end of the Shard Campaign, the price at the Whales premarket increased by 50%. Now the price for 1 million Shards is about $1500. This is a good profit, which in my case is equal to about 80% of the invested funds in 2 months.

Damn!!! that's a really nice price. I have collected 2.2m shards from LPing 3k USD since last months. If that will be true and i will be doubling my money. How much did you get from your investment?

Here's my calculation regarding the shard price.

1 / (750M/340B)) = 454 shards per $ENA token

At $0.751 per $ENA, this means each shard is worth $0.00165418


750m = total airdrop to be given by the team.
340B = Total shards after the campaign will be completed.

[tvplus006]

Update guys, Ena just been announced on Binance launchpool. I think they are bound to be there as it is backed by Binance plus their hype is all around. Hope that airdrop tier is good and has potential profits...

From a marketing point of view, the Launchpool on the Binance and the subsequent listing on this exchange can further increase the price of the ENA coin. And as you know, if a coin has a listing on the Binance, then we will see the same listing on other large and not only large CEX.