Ethena Labs publicizes 750 million ENA airdrop for its neighborhood

• Ethena Labs has introduced that the ENA airdrop is ready for April 2, with buying and selling on exchanges additionally open.
• Eligible Shard Marketing campaign individuals will probably be airdropped tokens amounting to 750 million, or 5% of ENA provide.

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

The Ethena Labs crew introduced that the extremely anticipated ENA token airdrop occurs subsequent week, on April 2. Buying and selling on crypto exchanges additionally opens on the day.

Per the replace, the DeFi protocol’s neighborhood will obtain a distribution of 750 ENA tokens, which characterize 5% of the entire provide of 15 million ENA tokens.

ENA distribution follows Ethena’s mainnet launch in February and marks the top of the mission’s “Shard Marketing campaign”.

Customers’ engagement and accumulation of “shards” ends on April 1, permitting the neighborhood to say ENA tokens from April 2.

ENA airdrop: Who’s eligible?

In line with an announcement from Ethena Labs, airdrop eligibility will probably be pegged on customers’ shards accumulation as much as the snapshot date on April 1. Throughout this program, the USDe stablecoin’s provide rose to over $1.38 billion.

Members should have held onto their staked USDe to qualify. Unstaking or promoting USDe earlier than this date will see individuals turn into ineligible for the ENA airdrop.

Nevertheless, following an exploit on DeFi protocol Prisma Finance, a “21 day lock on the mkUSD<>USDe pool on Ethena” was lifted. The exploit on Prisma on Thursday noticed greater than $10 million in property stolen and the Ethena crew acknowledged the necessity to permit customers instantly withdraw their funds.

“Customers won’t lose any shards or accrued rewards for withdrawing from this pool,” Ethena Labs posted on X.

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

The 21 day lock on the mkUSD<>USDe pool on Ethena has been lifted with instant impact so customers can withdraw as required

Customers won’t lose any shards or accrued rewards for withdrawing from this pool https://t.co/NEGXegqMVp

— Ethena Labs (@ethena_labs) March 28, 2024

Notably, the highest 2,000 wallets eligible for the airdrop will obtain 50% of their allocation and have the opposite 50% topic to a 6-month vesting schedule.

The remaining wallets, that are presently eligible for smaller allocations, are set to benefit from the full liquidity of airdropped tokens beginning April 2.