Whats Ethena?

@ethena_labs is a groundbreaking synthetic dollar protocol built on Ethereum, offering a crypto-native solution for money that is not reliant on traditional banking systems. It provides a stable, scalable, and censorship-resistant form of money called USDe, which is fully backed on-chain and free to compose throughout DeFi. The peg stability of USDe is ensured through delta-neutral hedging of collateral assets.

The Ethena ecosystem also introduces the "Internet Bond," a crypto-native, yield-bearing, dollar-denominated savings instrument derived from staked Ethereum returns and the funding and basis spread available in perpetual and futures markets. This innovative approach to digital finance has garnered significant attention on Twitter and is backed by notable investors such as @dragonfly_xyz, @CryptoHayes, @MaelstromFund, and @BinanceLabs.