Ethena Labs intends to make a major airdrop called 750 million governance tokens, namely ENA. The tokens for the total number of ENA is only 5% among the users with shards, which equates to the digital units indicating the engagement with the DeFi protocol. The recipients who are allowed must hold the USDe, a stablecoin readily exchangeable for matching US dollars.
Users will accumulate their USDE based on the accumulation of shards by April 1. It will be necessary to hold their USDE stakes in the Ethena protocol as a condition for receiving airdrops of the tokens. The Ethan Shard Campaign was a major success, gathering support and shards for protocol work. It also significantly increased $USDT compliance to $1.3 billion.
Investments in Ethena labs are on the rise, which is evident from the injected funds of $20.5 million circulating across two rounds within a year. Institutions like Galaxy Digital, OKX, Dragonfly Finance, Binance Labs, or Bybit value the token maker at $300 million. The air-drop announcement demonstrates that Eth Knowledge Labs has indeed balloted on the promise of rewarding user engagement at the stage of expansion of the DeFi system.
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