The post Ethena Labs Launches sENA, Boosting Liquidity and DeFi Rewards appeared on BitcoinEthereumNews.com.

sENA allows users to maintain liquidity with their staked ENA, opening opportunities across multiple DeFi applications and platforms. Ethena Labs integrated Coinbase Prime Web3 Wallet to streamline minting and redemption processes for its Ethereum-based protocol. Ethena Labs has made tremendous progress in the DeFi field, particularly with recent advances involving their native token, ENA, and its liquid receipt cousin, sENA. The launch of sENA is a significant milestone, as it provides consumers with a liquid receipt token for locked ENA. This novel solution allows users to preserve liquidity while holding their staked ENA, allowing them to participate in a variety of DeFi apps without having to unstake their tokens. As of today, sENA is live as the liquid receipt token for locked ENA, allowing users to maintain liquidity with their staked ENA position sENA should present minimal operational difference from a user’s perspective; however, the liquidity and transferability will allow users to… pic.twitter.com/4STIPZIe5R — Ethena Labs (@ethena_labs) September 17, 2024 sENA Unlocks DeFi Potential with Increased Liquidity and 40x Rewards  From the standpoint of the user, sENA has few operational changes from ENA, but the increased liquidity and transferability bring up a plethora of possibilities in decentralized finance. Ethena Labs has verified that sENA is compatible with a wide number of DeFi applications, including Pendle, money markets, staking platforms, and third-party protocols. This adaptability elevates sENA from a passive holding to an active asset that users may use in a variety of ways, increasing the token’s utility within the larger DeFi ecosystem. One of the most noticeable aspects of sENA in the present DeFi scene is its significant reward multiplier. In Season 3, sENA holders will receive the highest daily rewards multiplier of 40x, making it an appealing alternative for individuals wishing to optimize their profits. The flawless compatibility with…

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Filed under: News - @ September 18, 2024 9:23 am