Ethena's TVL Aims for $3B, $ENA Surges 20% to Record High

Ethena, a Binance launchpool project, has seen significant growth, with its Total Value Locked (TVL) surpassing $2 billion and aiming for $3 billion. The introduction of $ENA into Season 2 aims to align the growth of USDe with $ENA, offering users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet a 50% increase in rewards and the highest number of rewards per day of any pool. This move has led to a surge in $ENA's value, reaching a new all-time high with a 20% increase, and a cumulative price increase of about 100% since its launch. A notable transaction involved a wallet depositing 62.5M $ENA ($83.75M) to Binance, received from the Gnosis Safe Proxy wallet of the Ethena team. The platform's strides include smashing a TVL of $2B, aiming for $3B, and having a USDe insurance fund at $32.6M, with the possibility to earn double Sats on USDe and single Sats on sUSDe by acquiring USDe on Mantle and using them across partner protocols. Additionally, Mantle is supercharging Ethena with 2.5B Ethena shards via Mantle reward station and offering USDe yields on its dapps.