Derived from The Defiant, Ethereal, a decentralized exchange (DEX) approved by Ethena community governance, has launched its mainnet alpha, allowing a limited group of users to trade USDe, a synthetic dollar stablecoin by Ethena Labs. Following the announcement, ENA surged nearly 4% in 24 hours, becoming one of the top-100 crypto assets' biggest gainers. Ethereal operates on a custom Ethereum Virtual Machine (EVM) appchain, leveraging Arbitrum for execution and settlement, and Converge for perpetual futures trading in USDe. The project aims to integrate DeFi services around USDe, with ENA holders set to receive 15% of future Ethereal tokens.
Ethena's Ethereal DEX Launches Mainnet Alpha, ENA Rises 4%
The DefiantShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.