DeFi protocol Ethena Labs is set to airdrop 750 million ENA governance tokens to participants in their Ethena Shard Campaign on April 2nd. This airdrop represents 5% of the total circulating supply of 15 billion ENA tokens.

Here's what you need to know

Distribution Users who participated in the Ethena Shard Campaign before April 1st will receive ENA tokens based on the points they accumulated.

Claim Window Recipients have 30 days to claim their airdropped ENA tokens. Unclaimed tokens will be distributed among all participants.

About Ethena Ethena is a project built on Ethereum (ETH) that offers a synthetic USDe stablecoin. They aim to provide passive income through their coin.

Underlying Assets Ethena uses liquid Ethereum tokens like Lido's stETH to back their USDe stablecoin.

Price Stability According to Ethena, price stability for USDe is achieved through a hedging process on both centralized (CEX) and decentralized (DEX) exchanges.

Market Impact The Ethena Shard Campaign successfully boosted USDe's market capitalization to $1.3 billion, ranking it fifth among the biggest stablecoins on CoinGecko.

This airdrop signifies a significant milestone for Ethena Labs and could potentially increase awareness and adoption of their USDe stablecoin and its governance token, ENA.