The Ethena stablecoin project has successfully raised $100 million through the ENA Token Sale, with the fundraising round completed in December 2024. This event attracted the participation of Franklin Templeton and F-Prime Capital (Venture Capital affiliated with Fidelity Investments), demonstrating the confidence of major financial institutions in Ethena's growth potential.

This new Capital will help Ethena expand the application of the USDe stablecoin, enhance its Liquidation and accessibility on Decentralized Finance (DeFi) platforms. Additionally, Ethena is developing iUSDe - a stablecoin version designed specifically for traditional financial institutions, in order to attract Capital from large institutions.

In addition to expanding the stablecoin product, Ethena also plans to launch its own Blockchain, utilizing the raised Capital to build an independent and sustainable ecosystem. This could help the project optimize transaction fees, improve efficiency, and expand interoperability with other DeFi platforms.

What is Ethena?

Ethena Labs is a Decentralized Stablecoin protocol project built on the Ethereum network.

The project focuses on providing a stablecoin solution that is independent of the traditional banking system, along with a USD savings instrument called the Internet Bond. Ethena's stablecoin (USDe) uses a delta-hedging strategy and is fully collateralized on-chain, allowing for free use on DeFi applications.