Ethena (ENA) crypto asset is now listed on INDODAX on the ERC-20 network.
Interested in Ethena (ENA) and how to buy it? Learn more before investing by reading below!
About Ethena (ENA)
Ethena is a decentralized finance protocol that introduces a new approach to finance with its synthetic US dollar protocol, USDe, built on the Ethereum blockchain.
USDe aims to provide a crypto-native stable currency solution that can transform the global financial landscape by offering a decentralized and scalable form of money that operates independently from traditional banking infrastructure.
Ethena also introduces the concept of an “Internet Bond”, a novel financial instrument designed to serve as a dollar-denominated savings tool accessible globally and powered by staking Ethereum alongside derivatives market dynamics.
For more information, visit the official website of Ethena (ENA) at https://ethena.fi/
Challenges, Opportunities, and Utilities
Ethena provides a solution to several problems faced in the cryptocurrency space. One of the major issues it addresses is the volatility that plagues most digital assets, making them unsuitable as reliable stores of value or mediums of exchange.
By creating a stable synthetic dollar known as USDe and employing sophisticated delta hedging strategies to maintain its value peg to the US dollar, Ethena offers users an alternative that remains stable despite fluctuations in the crypto markets.
Additionally, Ethena removes the dependence on traditional banking systems that often introduce inefficiencies and costs for users.
By operating fully on the blockchain through its decentralized platform, Ethena provides a censorship-resistant digital currency that does not rely on centralized financial infrastructure that can potentially censor or restrict transactions.
This allows for the facilitation of low-cost and borderless value transfers. In this way, Ethena solves the problems of volatility and banking dependence that have hindered broader adoption of cryptocurrencies for everyday financial activities.
In its development, one of Ethena’s major strengths is its delta-neutral hedging approach. Ethena uses a combination of crypto assets and financial instruments to maintain a close peg between USDe and the US dollar. This approach eliminates dependence on centralized custodians, thus increasing transparency and efficiency in the decentralized finance ecosystem. Without central bureaucracy, Ethena’s system becomes more fair and open to all. This innovation enables anyone to participate in the digital financial revolution safely and comfortably.
Apart from that, PENDLE can also utilized for governance, where ENA token holders can vote on protocol governance decisions.
Founder and Investor of Ethena (ENA)
Guy is the Founder at Ethena Labs. Prior to Ethena, he spent nearly a decade working in the traditional finance industry across investment banking, hedge funds, and private equity firms, most recently at Cerberus Capital Management a $50bn investment fund.
Guy’s success earned him the position of Head of Principal Investments at a Cerberus affiliate, where he led the firm’s expansion into Australian markets and oversaw strategic investments across banking, specialty finance, insurance, fintech, and more.
With fundraising of $20,500,000, ENA is backed by investors and venture capitals such as DragonFly Capital, Binance Labs, Maelstrom, OKX Ventures, etc.
Crypto Asset Ranking Information
As of April 29, 2024, the CoinMarketCap ranking of Ethena (ENA) is #72, with a market cap of USD 1,169,470,821. It has a circulating supply of 1,425,000,000 ENA and a maximum supply of 15,000,000,000 ENA.
How to Buy Ethena (ENA) on INDODAX
Now that you’ve discovered more about Ethena (ENA), you can start investing in Ethena (ENA) easily and securely on INDODAX.
You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.
To buy Ethena (ENA) crypto asset on INDODAX, follow the steps below:
- Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
- Then, deposit by reading how to make a deposit below
- After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
- Search for ENA in the IDR market, and click to visit the crypto asset page
- On the crypto asset page, enter the balance and desired ENA purchase price, or buy instantly at the current price
- Next, you should wait for the price to increase for some time
- Once the price increases, your assets can be sold at a higher price with the Instant method
- If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number
INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.
Let’s invest in Ethena (ENA) on INDODAX now!
