The Ethena Labs team rewarded the Shard campaigners for providing liquidity, check it out!
Ethena Labs
Expired
Progress mission: 0 of 6
Expired
Rewards
Reward Results
$60 $20,400
Details
Minimal cost
~$500
Time required
27 min.
Category
Mainnet
Rating
5/10
Risk
High
The Ethena Labs team rewarded the Shard campaigners for providing liquidity. The campaign was quite short - 6 weeks. On 2 April 2024, Ethena Labs began airdropping 750 million ENA tokens to participants in the programme. The volume of tokens distributed will be 5% of the total issue of 15 billion. The snapshot was taken one day earlier - on 1 April 2024.
The price of the token at the listing was estimated at $0.7 and reached up to $1.5.
The maximum amount of ENA tokens received (depended of amount in farm, time, and boosts) as an airdrop was 29,128 tokens ($20,400) based on information from this dashboard in Dune Analytics, the minimum amount was an award of 88 ENA tokens ($62).
Pros & Cons
Why is it worth it?
Substantial Funding
Secured $20.5 million from top investors, including Franklin Templeton, promising strong backing and resources.
Real Yield
Earns genuine yield from ETH staking and hedging, offering a tangible return on investment with current low competition.
Less Competition
With only 3000 wallets active, early users may benefit from higher potential rewards due to less competition.
Risks to consider
Undisclosed Team
The team's hidden identity could pose security risks, making it vital to proceed with caution.
Stablecoin Risk
The main product shares traits with a previously failed stablecoin (UST from Luna), indicating a possible risk to its stability.
Favors Large Deposits
Project favors users with more capital, potentially sidelining smaller investors from fully engaging in the opportunity.
How to participate?
- Get USDe Tokens: Start by getting USDe, a stablecoin from Ethena Labs. It's like digital money that keeps its value.
- Collect Shards: Use USDe to get shards. Think of shards as special tokens you can trade for rewards in the airdrop event in May 2024.
- Stake USDe: You can "lock" your USDe tokens to earn more shards. It's like putting money in a savings account to get interest.
- Provide Liquidity: You can also lend your USDe to a pool to help others trade and earn more shards in return. It's like investing your digital money to get more back.
- Refer Friends: Invite friends to join. When they collect shards, you get a 10% bonus of what they earn. It's like getting a reward for recommending a good deal.