The post Ethena Proposes Introduction of Ethereal DEX for Spot and Perpetual Futures Trading appeared on BitcoinEthereumNews.com.

Ethena Proposes Introduction of Ethereal DEX for Spot and Perpetual Futures Trading The Ethena community has received an exciting governance proposal aimed at introducing Ethereal, a new decentralized exchange (DEX) designed for spot and perpetual futures trading. If approved, this innovative platform would be built on the upcoming Ethena Network, utilizing USDe as its primary asset for trading activities. This move is seen as a key step in enhancing Ethena’s reserve management system, providing users with an on-chain platform to manage spot and derivative positions while supporting the broader decentralized finance (DeFi) ecosystem. The proposal also outlines potential incentives for ENA holders, with 15% of Ethereal’s potential future governance tokens allocated to them. This offer not only boosts participation in the governance process but also creates new opportunities for ENA token holders to benefit directly from the DEX’s success. What is Ethereal? Ethereal is envisioned as a decentralized trading platform built within the Ethena ecosystem, offering users the ability to trade spot assets and perpetual futures in a fully decentralized, on-chain manner. By leveraging USDe, Ethena’s stablecoin, Ethereal will provide a seamless platform for managing both spot and derivative positions in a trustless environment. Spot trading allows users to trade assets instantly at the current market price, while perpetual futures trading enables the trading of contracts with no expiration date, giving traders the flexibility to speculate on asset prices over both the short and long term. This dual functionality positions Ethereal as a comprehensive trading platform that caters to various risk appetites and investment strategies. Key Features of Ethereal Spot Trading: Ethereal will offer seamless, on-chain spot trading for a variety of digital assets, allowing users to buy and sell directly using USDe. Perpetual Futures Trading: Users will have the opportunity to engage in perpetual futures trading, allowing them to…

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Filed under: News - @ September 30, 2024 11:24 am