Ethena Labs Launches ENA Token, Airdrops to USDe Holders As Part of DeFi Protocol's Governance

• Ethena Labs' new ENA token goes live, starts trading at 64 cents • ENA is the governance token for Ethena Labs' DeFi protocol, which offers the yield-earning USDe token • Ethena airdropped 750 million ENA tokens to USDe holders, equating to 5% of total supply • ENA rose over 8% after launch to trade around 64 cents, with market cap near $500 million • Ethena plans new incentives for next phase of ENA airdrop to expand community