Free distribution of 750 million ENA coins on April 2

She declared Athena Laboratories Ethena Laboratories It is a decentralized finance (DeFi) platform, preparing for free distribution via... Airdrop Around 750 million ENA, the platform's governance currency, was distributed to its users on April 2. This quantity of coins represents 5% of the total supply of the ENA, which amounts to 15 billion.

Free distribution of airdropped coins will go to holders of “shards,” which are digital units measuring user interaction with the Ethena protocol.

Coins will be awarded to users who own USDewhich is the “synthetic dollar” or stablecoin of the protocol linked to the US dollar.

According to a statement from Athena Labs, the ENA token will be distributed to eligible participants on April 2. It will be available on centralized cryptocurrency exchanges (CEX).

The number of coins dropped for each user depends on the number of "fragments" they collect until April 1. Users must keep USDe On the Ethena protocol, either in staking or in holding, to receive free coins.

The ENA drop comes after the “Ethena Shards” campaign. It was a six-week event that asked cryptocurrency enthusiasts to collect “shards” by completing activities on the Ethena protocol.

During this campaign, the volume reached USDe At $1.3 billion. This makes it the fastest US dollar-denominated asset to surpass $1 billion in supply, according to Athena Labs.

The drop in ENA coins also follows a $20.5 million investment in Ethena Labs over the past year across two funding rounds.

These rounds included participation from Galaxy Digital, OKX, Dragonfly, Binance Labs and Bybit, among other investors, valuing the cryptocurrency maker at $300 million. According to a report from CoinGecko.