ENA Jumps 4% as First Ethena-Native DEX Ethereal Launches Mainnet Alpha

Ethereal, the spot and perpetual futures DEX approved by Ethena community governance, announced in a Tuesday X thread that its mainnet alpha is now live, and a small group of users can start trading with USDe, a synthetic dollar stablecoin by Ethena Labs.

First proposed to Ethena governance last year, Ethereal is described as the “only perps DEX building a complete all-in-one DeFi money app around USDe,” according to the project’s documentation. Under that plan, ENA holders are set to receive 15% of any future Ethereal token, tying the exchange’s growth directly to Ethena’s token economy.

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