Ethena Labs, a synthetic dollar platform leveraging Ethereum, has unveiled its latest project through Binance's Launchpool, highlighting its focus on stability and scalability by delta-hedging against Ethereum collateral. In a notable development, Echo users closed their first deal by investing $300,000 in Ethena within three hours of its beta launch, demonstrating significant interest in the protocol. Ethena's governance token, ENA, began trading at $0.65 with a market cap of $919M and a fully diluted market cap of $9.6B, having minted 360.7B Shards with 750M $ENA distributed. The token was listed on the WOO X spot market, with special trading incentives including a 3,000 USDT prize pool for the first 75 new users. Additionally, the platform has attracted attention from various partners in the DeFi ecosystem, including Manta Network and Pendle, further integrating into the crypto finance landscape. This flurry of activity underscores the growing interest and investment in synthetic dollar protocols and DeFi platforms, positioning Ethena Labs as a significant player in the market.