Category: Stablecoins
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What ENA is actually for – how it differs from the USDe stablecoin, its rank and its purpose
Figures published under the Ethena name belong to two different tokens, and they are easy to mix up. USDe is built to track one dollar; ENA governs the protocol and trades like any other coin. This article checks three things against public sources: where ENA currently ranks, what the token is actually used for, and why a token of this kind is needed at all. Every figure was measured on…