Protocols

Ethena is a decentralized finance (DeFi) protocol built on Ethereum that introduces a crypto-native approach to creating dollar-referenced assets. Its main product, USDe, is a synthetic dollar designed to maintain a relatively stable value through a combination of backing assets and hedging strategies. Unlike fiat-backed stablecoins that primarily rely on traditional cash and cash-equivalent reserves, USDe uses a different structure with distinct technical, market, and counterparty risks.

LINK is the native token of Chainlink, a decentralized oracle network designed to connect blockchain applications with data and services from outside their native networks. Chainlink provides infrastructure that allows smart contracts to access external information, communicate across blockchains, and interact with offchain systems.