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Ethena Community to Vote on Ethereal DEX Launch with 15% Airdrop and USDe Integration

Sep 30, 2024, 08:33 AM

The Ethena community is preparing to vote on a proposal to launch Ethereal Exchange, a new decentralized exchange (DEX) that will be built on the Ethena Network. The proposal, introduced by the user 'Fells0x', aims to integrate Ethereal into Ethena's reserve management system and hedging engine to boost the utility and demand for USDe, a synthetic stablecoin. The new exchange will offer both spot and perpetual trading and includes a 15% airdrop of the exchange token to $ENA holders. The plan also highlights the potential for USDe to bootstrap volume and total value locked (TVL) from day one, addressing a common challenge faced by new exchanges. Additionally, the integration is expected to enhance liquidity within the Ethena ecosystem.