Ethena has just updated its Season 4 airdrop, adding HyENA-related features, indicating a strong push into the Perps market. For users with over 200 million rewards, they need to deposit and hold HLPe or USDe in HyENA for at least two consecutive weeks. The deposit amount requirement is 1 USDe for every 2 million rewards; based on the minimum 200 million rewards, that's 100 USDe. In addition to depositing, users need to make one transaction of any size on HyENA. Rewards are distributed in uENA (the ENA version on Hyper), with the first batch starting in late December, for a two-month window lasting until the end of February. Users can choose any two consecutive weeks within this two-month period to deposit.