(PRESS RELEASE – Victoria, Seychelles, April 1, 2024)
Bitget, world leader cryptocurrency exchange and the company Web3, have announced the listing of the Ethena token (ENA), the governance token of Ethena, which is the protocol for the synthetic crypto-native dollar. The token is available on Launchpool, where users can stake BGB and USDT to farm ENA.
As a synthetic dollar protocol built on top of ethereum, Ethena provides a crypto-native solution for money without relying on traditional banking system infrastructure. Ethena's synthetic dollar, called USDe, is the first censorship-resistant, scalable and stable synthetic dollar achieved through ethereum delta collateralization. USDe is fully backed transparently on-chain and is free to compose throughout DeFi. The stability of the USDe peg is ensured through the use of delta hedging derivative positions against collateral held by the protocol.
Once launched, Ethena users will be able to access external AMM pools to purchase or sell USDe collateralized stablecoin such as USDT or USDC. The mechanism behind the USDe will enable the first “Internet bond” to sit alongside the synthetic dollar, offering a crypto-native, dollar-denominated savings instrument with yield, derived from ethereum staked returns and funding and base differential available in perpetual. and futures markets.
Bitget Launchpool allows users to stake and earn tokens with easy-to-use terms and conditions. By staking BGB or other coins on Launchpool, users have the opportunity to get free airdrops, winnings, and access to a significant prize pool. The estimated ROI is available for viewing on the Launchpool page with the flexibility to withdraw staked assets in the broader DeFi ecosystem with the Bitget Wallet.
Bitget has steadily expanded its market share in spot and derivatives trading among centralized exchanges. Aiming to provide users with opportunities to invest in popular and valuable projects, the platform is now a top 10 cryptocurrency spot trading platform with over 700 coins and 800 pairs, including tokens from DeFi trending sectors. In 2023 alone, the platform added more than 350 new listings, further diversifying investment options for users. Meanwhile, Bitget Wallet supports 100+ major networks and 250,000+ tokens. Its on-chain trading feature, Bitget Swap, enables cross-chain trading between nearly 30 major networks.
To participate in the Ethena Launchpool, visit: https://www.bitget.com/support/articles/12560603807489
About Bitget
Established in 2018, bitget is the world leader cryptocurrency exchange and Web3 company. Serving over 25 million users in over 100 countries and regions, Bitget Exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers a variety of comprehensive Web3 solutions and features including wallet functionality, exchange, nft Marketplace, DApp browser, and more. Bitget inspires people to embrace cryptocurrencies through collaborations with credible partners, including legendary Argentine footballer Lionel Messi and official esports event organizer PGL.
For more information visit: Website | twitter.com/bitgetglobal” target=”_blank” rel=”nofollow noopener” data-wpel-link=”external”> twitter | Telegram | LinkedIn | Discord | Bitget Wallet
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