• Ethena Labs has introduced that the ENA airdrop is ready for April 2nd and buying and selling on exchanges may even start.
• Eligible Shard marketing campaign individuals might be airdropped with 750 million tokens, representing 5% of ENA provide.

Ethena Labs plans to mark the following step in decentralization with one of many largest airdrops within the crypto market.

The Ethena Labs staff has introduced that the much-awaited ENA token airdrop will happen subsequent week on April 2nd. Buying and selling on digital foreign money exchanges may even start on the identical day.

In response to the replace, the DeFi protocol's neighborhood will obtain a distribution of 750 ENA tokens, representing 5% of the overall provide of 15 million ENA tokens.

The distribution of ENA follows the launch of Ethena mainnet in February and marks the tip of the undertaking's “shard marketing campaign.”

Person engagement and “shard” accumulation will finish on April 1st, and the neighborhood will be capable of declare ENA tokens from April 2nd.

ENA Airdrop: Who’s it for?

In response to Ethena Labs' announcement, airdrop eligibility might be mounted to a consumer's shard accumulation as much as the snapshot date of April 1st. Throughout this program, the availability of USDe stablecoins elevated to over $1.38 billion.

Contributors should have USDe in stake to qualify. Unstaking or promoting her USDe earlier than this date will make the participant ineligible for her ENA airdrop.

Nonetheless, following an exploit on DeFi protocol Prisma Finance, a “21-day lock on mkUSD<>USDe pool on Ethena” has been lifted. Thursday's Prisma exploit resulted within the theft of greater than $10 million in property, and the Ethena staff acknowledged the necessity to permit customers to withdraw funds immediately.

“Customers is not going to lose any shards or earned rewards when withdrawing from this pool,” Ethena Labs posted on X.

We’re conscious of the continued points with our associates. @PrismaFi

Ethena’s mkUSD<>USDe pool is now instantly unlocked for 21 days, permitting customers to withdraw on demand

Customers is not going to lose their shards or earned rewards when withdrawing from this pool https://t.co/NEGXegqMVp

— Ethena Labs (@ethena_labs) March 28, 2024

Particularly, the highest 2,000 wallets eligible for the airdrop will obtain 50% of the allocation, with the remaining 50% topic to a six-month vesting schedule.

The remaining wallets at present have smaller allocations out there, however will be capable of benefit from the full liquidity of airdropped tokens beginning April 2nd.