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Home > News
Published: 29/03/2024
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Author: Kane
What is Ethena (ENA)? Information about ENA Token?
Recently, Binance announced the listing of Ethena (ENA) as its 50th Binance Launchpool project. So, what is Ethena (ENA)? Let's explore ENA Token.
Azcnews Breaking
Table of Contents
What is Ethena (ENA)?
Ethena (ENA) is a synthetic currency protocol built on the Ethereum platform, aiming to provide a native cryptocurrency solution independent of traditional banking infrastructure. It also offers a savings instrument denominated in dollars, called the ‘Internet Bond’, for users globally.
Ethena’s synthetic currency, USDe, is committed to providing a stable, censorship-resistant native crypto currency that can scale by treating Ethereum staked assets as collateral. USDe is fully transparently collateralized on-chain and can be freely utilized within DeFi.
The stability of USDe’s value is ensured through the use of delta hedging derivative positions for collateral assets held by the protocol.
Interface ethena
Interface ethena
The ‘Internet Bond’ will leverage yields from staked Ethereum as well as the spread/profit from perpetual and futures market settlements to create a native on-chain crypto ‘bond’ that can act as a dollar-denominated savings instrument for users in jurisdictions that allow it.
An “Internet Bond” can function similarly to U.S. Treasury bonds in traditional financial markets. It provides backbone collateral assets for DeFi as an uncensorable and yield-bearing asset, as well as a transactional currency on centralized exchanges.
What Problem Does Ethena Solve?
Ethena is developed to address one of the most significant and apparent needs in the cryptocurrency space. In DeFi, the goal is to create a parallel financial system; however, stablecoins, considered one of the most important financial tools, still rely on traditional banking infrastructure. Ethena is developed to provide a scalable native crypto currency, aiming to enable the building of a truly decentralized financial system.
Stablecoins are susceptible to influence by traditional financial institutions.
We can observe that popular stablecoins in the crypto market are vulnerable when traditional financial institutions encounter issues. The case of USDC is a prime example, as the company managing USDC deposited $3.3 billion in Silicon Valley Bank. When this bank encountered issues, the stablecoin immediately lost value.
Eight billion people lack access to USD-denominated savings instruments.
While U.S. citizens have access to the $30 trillion U.S. government bond market, individuals in the rest of the world lack access to this market.
Ethena’s Solution
Mint Usde
Mint Usde on ethena
USDe is activated by Ethena Labs through risk-mitigated on-chain immediate settlement of collateral-backed tokens during the minting process. Therefore, USDe provides the following benefits:
Scalability is achieved by using derivative tools without over-collateralization, as LST used as collateral can be hedged with equivalent short positions.
Stability is achieved through unleveraged short positions executed for LST immediately upon USDe issuance to ensure a neutral position.
Censorship resistance is achieved by separating collateral assets from the banking system and storing collateral assets on decentralized platforms, easily auditable on-chain.
Highlights of USDe
Logo
On-chain security of USDe
Ethena distributes collateral assets to a diverse set of MPC custody contract types on-chain. On-chain collateralized assets ensure independence from centralized servers, thus minimizing counterparty risks.
Seamless connectivity with major liquidity venues to manage underlying risks and optimize capital while users retain full control over monitoring USDe.
Unlocking leverage
USDe generates fixed returns for users through staking rewards from LST and funding rates from short positions.
Ethena will continue to allow minting of USDe based on LST to maintain long-term exposure to Ethereum while providing liquidity for USDe.
No liquidation risk
USDe is issued based on a delta-neutral mechanism rather than a debt position mechanism (CDP) like other algorithmic stablecoins, so users holding USDe will not face liquidation risks.
Ethena’s Operational Model
Work
USDe Issuance Mechanism
Users deposit various types of LST (stETH, rETH) into Ethena to receive USDe. Slippage and execution fees will be applied to users’ mint or redeem USDe transactions. After receiving LST from users, Ethena will open an unleveraged short position on derivative exchanges with the equivalent value of assets deposited by users into the protocol.
As we know, LST (stETH, rETH, WBETH) are used as collateral to mint USDe. However, LST are altcoins with high volatility, so Ethena needs to open short positions to hedge against price volatility for these assets. If the value of LST on the market drops significantly, the profit from the unleveraged short position will offset the price decrease of these LST, ensuring their value remains unchanged.
sUSDe
After receiving USDe, users can stake this stablecoin to receive sUSDe. The profit for users holding sUSDe will come from two sources: Staking rewards from LST and funding rates from the short position. The reward mechanism for sUSDe holders will not require users to perform any operations because sUSDe is an accumulative value token. The value of sUSDe compared to USDe will gradually increase over time.
Related: Binance Announces Listing of Ethena (ENA) on Launchpool
What is ENA Token?
Basic Information
Token Name: Ethena
Symbol: ENA
Blockchain: Ethereum
Token Standard: ERC-20
Contract: To be announced
Token Type: Governance
Total Supply: 15,000,000,000
Circulating Supply: Updating
ENA Token Allocation
Allocation
Allocation
Founders: 30%
Investors: 25%
Reserve: 15%
Ecosystem Development: 30%
ENA Token Release Schedule
Vesting
Vesting
ENA Token is used for what?
Voting for project governance proposals
ENA Token Storage Wallet
You can store this token in the following wallets: MetaMask, Trust Wallet, …
Where to Buy and Sell ENA Token?
ENA Token will be listed on the Binance exchange at 15:00 on April 2, 2024.
Development Team
Updating
Investors
Investor
Investor
In July 2023, Ethena raised $6.5 million from investors such as Dragonfly Capital, Deribit, OKX Ventures, Gemini, Bitmex, Huobi, Delphi Digital, GSR,…
Project Information
Website
Twitter
Discord
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#ethena
4.3/5
(3 votes)
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Anonymous
29/03/2024 at 8:51 pm
Making it $ENA is a solid idea from the very best
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Thetko
30/03/2024 at 3:37 am
@thetko6991.tg
Telegram address link.
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Home > News
Published: 29/03/2024
-
Author: Kane
What is Dusk Network? Information about DUSK Token?
Privacy and security rights in digital platforms always receive significant attention from the cryptocurrency community. Dusk Network has been developed to address this issue. So, what is Dusk Network? Let's find out right away!
Azcnews Breaking
Table of Contents
What is DUSK Network?
DUSK Network is a blockchain network designed primarily to develop digital financial applications, aiming to automate transactions and ensure privacy as well as auditability for each user.
By using a customized consensus mechanism and advanced cryptography, DUSK Network is committed to providing the highest level of security. The goal of this platform is to digitize financial markets and create an environment that eliminates reliance on intermediaries in traditional systems.
Dusk Network promises to become a flexible blockchain protocol for the deployment of Zero-Knowledge applications and play an important role in the global ecosystem of decentralized applications.
Main Components of the Dusk Network
Interface
Interface
Rusk Virtual Machine
Rusk allows developers to program Smart Contracts, power dApps, and set parameters for compliance and easy control. This virtual machine system is entirely based on Zero Knowledge Cryptography and is also the world’s first Zero Knowledge – Virtual Machine (ZK-VM) application.
Zero Knowledge – PLONK
With Zero Knowledge – PLONK, enterprises can transact securely and with strict privacy.
Fast Immutable Data – Kelvin:
Dusk Network uses Kelvin to accelerate immutable data storage. Kelvin is a particularly fast and unique Merkle Tree toolkit for creating optimized data structure models.
Proof of Blind Bid
Dusk Network operates on the Proof of Blind Bid consensus mechanism, an upgraded version of Proof of Stake that can provide maximum network security due to its dual node structure: Block Generators and Provisioners.
The Difference of Dusk Network
Dusk Network was created for 3 main use cases: payments, digital asset transfer, and P2P transactions.
One of the main tasks of this network is to ensure operability and continuity for cryptocurrency transactions, as well as stable data transmission in the offline file transfer system.
Developers on Dusk Network can deploy a system that allows anonymous file transfer for users, but at the same time, the user must register in the system and take full responsibility for the content of the files.
To protect privacy, Dusk Network will provide anonymous addresses, anonymous transactions, and specific IP address encryption.
Benefits of Dusk Network
Fast speed: Without waiting for block confirmations, transactions will take place quickly, taking just a few seconds to complete and achieve the final result immediately.
Privacy: Zero Knowledge Cryptography technology will make privacy programmable, even on a public blockchain.
Scalable: The Proof of Blind Bid consensus algorithm is designed for high throughput, supporting the needs of enterprises of all sizes.
Security: Dusk provides developers with a reliable and secure network for dApps.
Replaceability: Continuous and random changing of voting rights between all validators in the Dusk network means anyone has a chance to become a consensus participant.
Decentralization: Preventing resource concentration from Staking Pools will encourage new players to join the consensus.
Related: What is etherFi? An Overview of the etherFi Project
What is the DUSK Token?
Basic Information of DUSK Token
Token Name: Dusk Network.
Ticker: DUSK.
Blockchain: Ethereum.
Token Standard: ERC20.
Contract: 0x940a2db1b7008b6c776d4faaca729d6d4a4aa551.
Token Type: Utility.
Total Supply: 1,000,000,000 DUSK.
Circulating Supply: Updating
Utilities of DUSK Token
DUSK is the utility token of the Dusk network. This token has many use cases within the ecosystem including:
Used to exchange for Confidential Security Standard (XSC) tokens.
Used for Staking and participating in consensus.
Used to participate in chain governance in XSC.
Used as a reward for consensus participants. A small percentage is also transferred to project development for R&D purposes.
DUSK is also used to deploy Smart Contracts for various dApps.
DUSK Token Allocation
Allocation
Allocation
Private Sale: 50% of total supply.
Partner Tokens: 11.81% of total supply.
Technical Development Fund: 18.06% of total supply.
Marketing & Events Tokens: 7.29% of total supply.
Team Tokens: 6.42% of total supply.
Advisor Tokens: 6.42% of total supply.
DUSK Token Release Schedule
Vesting
Vesting
Storing and Trading DUSK Token
Market
Market
DUSK is an ERC-20 standard token, so you can store it in Ethereum wallets like Metamask, Trust Wallet, Coin98 Wallet, Coinbase Wallet, cold wallets like Ledger, Trezor, and on exchanges like Binance, Bitget, BKEX, Bittrex, Gate.io, etc.
Development Team
Emanuele Francioni: Founder & CEO
Emanuele holds a Master’s degree in Engineering, Electronics, Robotics and Automation from the University of Rome.
After graduating, Emanuele worked as a Software Engineer at Vitrociset SPA Syrian Air Traffic Control Project, Commerzbank AG, Tom Tom applications related to mapping systems.
Emanuele founded several companies like Beestar, a unique user-friendly smart device in the IoT ecosystem, seamlessly integrated with any vehicle to provide sensible services for drivers and business fleet owners. GoSparc BV, a connected vehicle device enabling organizations to deploy their own enhancement solutions for free of any hardware costs.
Emanuele entered the Crypto market when he founded Web3 Ventures and UNL, a decentralized micro-location protocol for addressing, navigation and location-based services.
In January 2018, Emanuele started building Dusk Network.
Fulvio Venturelli: Co-Founder & Director
Fulvio holds a Bachelor’s degree in Computer Science Engineering from Sapienza University.
Fulvio worked as a Software Engineer at several companies like Amazon.com, Excite Italia, Torrington Interactive, TomTom, etc.
Fulvio started building UNL, Web 3 Ventures together with Emanuele.
Investors
Funding Round Dusk
Funding Round Dusk
09/01/2023: Dusk Network successfully raised $1 million from iFinex investment fund.
Project Information
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#dusk
3.6/5
(8 votes)
Avatar of Awoyera Damilola
Awoyera Damilola
29/03/2024 at 7:20 pm
dusk network is a great network channel
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Avatar of
Anonymous
29/03/2024 at 7:55 pm
Wonderful
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Avatar of Faith
Faith
29/03/2024 at 8:02 pm
This is great
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Avatar of
Anonymous
29/03/2024 at 8:45 pm
This is very exciting
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Avatar of Mohamad Wildan Solihin
Mohamad Wildan Solihin
30/03/2024 at 5:23 am
Informasi yang mendasar sangat dibutuhkan oleh para pembaca apalagi para pemula dibidang mata uang digital yang semakin pesat laju perkembangan penggunaannya.
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