Bitget has introduced Ethena (ENA), a pioneering synthetic dollar protocol, into its Launchpool. This move allows users to engage with ENA, the governance token for Ethena's platform, designed to create a synthetic, crypto-native dollar without the need for traditional financial infrastructures.

Ethena's Groundbreaking Approach

Built atop the Ethereum network, Ethena emerges as a revolutionary protocol offering a synthetic dollar solution named USDe. This initiative marks a significant step forward in achieving a censorship-resistant, scalable, and stable digital currency through the innovative use of delta-hedging staked Ethereum collateral. With its operations fully transparent and on-chain, USDe presents a composability feature across the decentralized finance (DeFi) landscape, ensuring peg stability through meticulously managed derivatives positions against the collateral held by the protocol.

Upon launch, users of Ethena will gain the ability to engage with external Automated Market Maker (AMM) pools, facilitating the acquisition or disposal of USDe against stablecoin collaterals like USDT or USDC. This system not only supports the synthetic dollar's framework but also introduces the concept of the "Internet Bond." This novel financial instrument offers a yield-bearing, dollar-denominated savings option, directly benefiting from the returns on staked Ethereum and the dynamics of the perpetual and futures markets.

Leveraging Bitget Launchpool

Bitget's Launchpool stands out by offering a user-friendly platform for staking and earning tokens. Participants can stake BGB or other cryptocurrencies to earn rewards, including free airdrops and access to significant prize pools. The Launchpool page provides detailed insights into the estimated return on investment (ROI), with the added flexibility for users to withdraw their staked assets into the wider DeFi ecosystem through Bitget Wallet.

Bitget's Expanding Ecosystem

Bitget continues to solidify its position in the cryptocurrency market by consistently enlarging its offerings in both spot and derivatives trading sectors. The exchange is renowned for enabling access to sought-after and high-value projects, ranking among the top 10 platforms for crypto spot trading. It boasts an extensive selection of over 700 coins and 800 trading pairs, with a particular emphasis on tokens from the thriving DeFi sector.

In the previous year alone, Bitget enriched its listing with over 350 new entries, expanding the investment horizons for its users. Additionally, Bitget Wallet's support for over 100 mainnets and more than 250,000 tokens, coupled with its on-chain trading feature, Bitget Swap, facilitates cross-chain transactions among nearly 30 mainnets, further enhancing its ecosystem's versatility and appeal to a broad user base.