Tokenómica de Ethena (ENA)
Información de Ethena (ENA)
Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure.
Tokenómica y análisis de precio de Ethena (ENA)
Explora los datos clave de la tokenómica y el precio de Ethena (ENA), incluyendo la capitalización de mercado, detalles de suministro, FDV e historial de precios. Comprende el valor actual del token y su posición en el mercado de un vistazo.
Estructura detallada del token Ethena (ENA)
Profundiza en cómo se emiten, asignan y desbloquean los tokens ENA. Esta sección destaca aspectos clave de la estructura económica del token: utilidad, incentivos y calendario de desbloqueo.
Overview
Ethena (ENA) is the governance and utility token of the Ethena protocol, which issues the synthetic stablecoin USDe. The token economics of ENA are designed to incentivize ecosystem growth, align stakeholders, and ensure long-term protocol sustainability. Below is a comprehensive breakdown of the issuance, allocation, usage, incentive, locking, and unlocking mechanisms, with supporting tables for clarity.
Issuance Mechanism
- Initial Minting: ENA tokens were initially minted at launch. The protocol includes a
mintfunction, controlled by a multi-signature wallet, which allows for additional issuance up to 10% of the total token supply, but only once every 365 days. The first mint counted as the initial issuance, so no further minting can occur until at least April 2, 2025. - Inflation Control: The
MAX_INFLATIONvariable restricts the total number of tokens that can be minted, and theMINT_WAIT_PERIODenforces a minimum interval between mints.
Allocation Mechanism
| Allocation Category | % of Total Supply | Unlock Start | Vesting/Unlock Details |
|---|---|---|---|
| Binance Launchpool | 2.00% | 2024-04-02 | Distributed at launch |
| Investors | 25.00% | 2025-03-06 | 1-year 25% cliff, then 3-year linear monthly vesting |
| Core Contributors | 30.00% | 2025-03-06 | 1-year 25% cliff, then 3-year linear monthly vesting |
| Foundation | 15.00% | 2025-03-06 | 3-year linear monthly vesting (unlock dates not fully disclosed) |
| Ecosystem (incl. Airdrop) | 28.00% | 2024-03-06 | 10% airdropped in first/second season, remainder for ongoing ecosystem initiatives |
Key Unlock Events:
- Airdrop: 10% of the ecosystem allocation was distributed as airdrops in the first and second reward seasons (March 2024).
- Ecosystem Development: Ongoing, with a portion held by a DAO-controlled multisig for future campaigns and partnerships.
Usage and Incentive Mechanisms
- Governance: ENA holders will be able to vote on protocol parameters, risk management, collateral composition, exchange/custodian exposure, DEX integrations, cross-chain initiatives, product prioritization, community grants, Reserve Fund sizing, and yield distribution.
- Staking and Locking: Users can lock ENA to receive sENA, a liquid receipt token that earns rewards (initially from unclaimed airdrop ENA). sENA is composable in DeFi and is intended to reward long-term aligned users.
- Restaking: ENA can be restaked in partnership with Symbiotic to provide economic security for cross-chain USDe transfers and future Ethena Network applications.
- Liquidity Incentives: USDe and ENA holders are incentivized to provide liquidity on platforms like Curve and Uniswap through campaigns (e.g., Shard and Sats campaigns).
- Points Campaigns: Users earn points (shards, sats) for holding, staking, locking, and providing liquidity, which can be converted into ENA or other rewards.
Example: Shard Distribution (as of Feb 29, 2024)
| Activity | TVL ($M) | Shard Boost (per $/day) | New Shards Distributed (M) |
|---|---|---|---|
| Locking LP Tokens | 125 | 20 | 2,500 |
| Hold Pendle USDe YT or SY in Pool | 59 | 10 | 590 |
| Lock USDe | 160 | 10 | 1,597 |
| Buy and Hold USDe | 104 | 5 | 519 |
| Stake and Hold sUSDe | 195 | 1 | 195 |
| Invite Bonus | ~10% | ~10% | 54 |
| Total | ~580 | - | 5,455 |
Locking Mechanism
- ENA Locking: ENA can be locked to receive sENA, which is liquid and can be used in DeFi. Locking aligns users with long-term protocol growth and grants access to additional rewards.
- USDe Locking: USDe can be locked to earn boosted rewards in points campaigns.
- Unstaking/Unlocking: sUSDe and USDe lockers can initiate an unlock process, which takes 7 days before withdrawal is possible. There are no minimum/maximum staking amounts.
Unlocking Time and Vesting
| Recipient | Unlock Start | Unlock Type | Amount per Period | Periods | Description/Notes |
|---|---|---|---|---|---|
| Airdrop | 2024-03-06 | Instant | 450,000,000 | 1 | 10% of ecosystem allocation as first/second season rewards |
| Ecosystem Dev. | 2024-07-05 | Instant | 500,000,000 | 1 | Ongoing ecosystem initiatives |
| Core Contributors | 2025-03-06 | Instant | 1,125,000,000 | 1 | 1-year 25% cliff, then 3-year linear monthly vesting |
| Ecosystem Dev. | 2025-03-06 | Monthly | 3,550,000,000 | 36 | 3-year linear vesting |
| Foundation | 2025-03-06 | Monthly | 2,250,000,000 | 36 | 3-year linear vesting (unlock dates not fully disclosed) |
| Investors | 2025-03-06 | Instant | 937,500,000 | 1 | 1-year 25% cliff, then 3-year linear monthly vesting |
| Core Contributors | 2025-04-06 | Monthly | 3,375,000,000 | 36 | 3-year linear vesting |
| Investors | 2025-04-06 | Monthly | 2,812,500,000 | 36 | 3-year linear vesting |
- Cliff and Vesting: Both core contributors and investors are subject to a 1-year cliff (no tokens unlocked before 1 year), after which 25% unlocks instantly, and the remaining 75% vests linearly over 3 years.
Additional Notes
- Multi-Sig Control: Key protocol functions, including minting and fund management, are controlled by multi-signature wallets with varying signatory requirements for security.
- No Native Staking for Security: Staking is not used to secure the network, but rather to align incentives and distribute rewards.
- Governance Rollout: DAO governance is planned for Q2 2024 and beyond, with ENA holders gaining increasing influence over protocol decisions.
Summary Table: ENA Tokenomics
| Mechanism | Details |
|---|---|
| Issuance | Initial mint, up to 10% inflation per year (not before April 2025), multi-sig controlled |
| Allocation | See allocation table above |
| Usage | Governance, staking (sENA), restaking, liquidity incentives, campaign rewards |
| Incentives | Points campaigns (shards, sats), airdrops, sENA rewards |
| Locking | ENA → sENA (liquid, composable), USDe/sUSDe locking for boosted rewards |
| Unlocking | 1-year cliff for team/investors, 3-year linear vesting, 7-day unlock for sUSDe/USDe |
For further details, see the Ethena documentation and governance forum.
Tokenómica de Ethena (ENA): Métricas clave explicadas y casos de uso
Entender la tokenómica de Ethena (ENA) es esencial para analizar su valor a largo plazo, sostenibilidad y potencial.
Métricas clave y cómo se calculan:
Suministro total:
El número máximo de tokens ENA que se han creado o se crearán jamás.
Suministro circulante:
El número de tokens actualmente disponibles en el mercado y en manos del público.
Suministro máx.:
El límite máximo de tokens ENA que pueden existir en total.
FDV (Valoración totalmente diluida):
Calculado como el precio actual × el suministro máximo, lo que da una proyección de la capitalización total del mercado si todos los tokens estuvieran en circulación.
Tasa de inflación:
Refleja la velocidad a la que se introducen nuevos tokens, lo que afecta la escasez y el movimiento del precio a largo plazo.
¿Por qué importan estas métricas para los traders?
Alto suministro circulante = mayor liquidez.
Suministro máximo limitado + baja inflación = potencial de apreciación del precio a largo plazo.
Distribución de tokens transparente = mayor confianza en el proyecto y menor riesgo de control.
Alta FDV con baja capitalización de mercado actual = posibles señales de sobrevaloración.
Ahora que entiendes la tokenómica de ENA ¡explora el precio en vivo del token ENA!
Cómo comprar ENA
¿Interesado en agregar Ethena (ENA) a tu portafolio? MEXC admite varios métodos para comprar ENA, incluidos tarjetas de crédito, transferencias bancarias y operaciones entre pares. Ya seas principiante o profesional, MEXC hace que la compra de criptomonedas sea fácil y segura.
Historial de precios de Ethena (ENA)
Analizar el historial de precios de ENA ayuda a los usuarios a comprender los movimientos pasados del mercado, los niveles clave de soporte/resistencia y los patrones de volatilidad. Ya sea que estés rastreando los máximos históricos o identificando tendencias, los datos históricos son una parte crucial de la predicción de precios y el análisis técnico.
Predicción de precios de ENA
¿Quieres saber hacia dónde podría dirigirse ENA? Nuestra página de predicción de precios de ENA combina el sentimiento del mercado, tendencias históricas e indicadores técnicos para ofrecerte una visión prospectiva.
¿Por qué deberías elegir MEXC?
MEXC es uno de los principales exchanges de criptomonedas del mundo, confiado por millones de usuarios a nivel global. Ya seas principiante o experto, MEXC es tu forma más fácil de acceder a las criptomonedas.
Aviso legal
Los datos de la tokenómica en esta página provienen de fuentes externas. MEXC no garantiza su exactitud. Realiza una investigación exhaustiva antes de invertir.
Comprar Ethena (ENA)
Monto
1 ENA = 0.5118 USD