Trade ENA and PENDLE, The Best of DeFi on Demex
It’s been a while since Demex has launched new markets, so we’re back with 2 new perpetual markets for you derivative lovers to trade on, and 1 brand new thematic perp pool for you market-makers and liquidity providers!
Say hello to ENA-PERP, PENDLE-PERP and the DeFi Perp Pool!
ENA is the native token of Ethena Fi, and PENDLE is the native token of Pendle Finance. Let’s dive into each protocol and what the tokens are designed to do.
Ethena Labs: Revolutionizing DeFi and Stablecoins
Ethena Labs has emerged as a significant player in the realm of decentralized finance (DeFi) and stablecoins, offering a protocol that has garnered attention for its innovative approach. Central to their offering is USDe, a stablecoin boasting a native yield of 35% APY. This feature has distinguished Ethena Labs in the competitive market, attracting both investors and users seeking stable assets with passive income potential.
The protocol's foundation rests on the utilization of staked Ethereum (ETH) and hedging strategies, ensuring stability while providing appealing returns for investors. Recent developments within the protocol include the introduction of the ENA governance token, facilitating community-driven governance. With ENA, users have the opportunity to participate in decision-making processes regarding fee structures, protocol upgrades, and strategic partnerships, fostering a decentralized governance model.
Ethena Labs’ community engagement efforts, such as the Shard campaign, have proven successful, with a substantial number of users actively participating. This demonstrates the project's ability to cultivate a strong community base, which is vital for long-term sustainability and growth.
Ethena Labs' Shard campaign has proven to be highly successful in engaging the community, with over 100,000 users actively participating. This community-driven approach aligns with the project's ambitious goals, aiming to propel USDe's market capitalization to $10 billion. Achieving this target requires a focus on widespread adoption, maintaining competitive yields, and continued innovation to stay ahead in the dynamic DeFi space.
As Ethena Labs continues to evolve, its focus remains on widespread adoption, maintaining competitive yields, and fostering innovation within the DeFi space. With ambitious goals on the horizon, including the aim to propel USDe's market capitalization to $10 billion, Ethena Finance is positioned to shape the future of DeFi and stablecoins in a neutral and informative manner.
For more information, check out our recent blog: Ethena Labs (ENA): Redefining DeFi with Yielding Stablecoin USDe.
ENA, the native token of Ethena Labs
ENA token is the native and governance token of Ethena Labs that launched on April 2, 2024. The token launched with a massive airdrop inviting the holders of the $1.3 billion USEe (yield-earning stablecoin) to claim their share of the airdrop. 750 million tokens were airdropped, amounting to 5% of the total supply set for listing on exchanges.
The token ENA has been given a lot of utility as highlighted by the Ethena Labs team themselves.
Pendle Finance: The Permissionless Yield Trading Protocol
Pendle Finance was founded with one clear mission: to liberate yield. In the realm of decentralized finance (DeFi), annual percentage rates (APRs) across various products, such as staking or liquidity pools, can fluctuate dramatically, ranging from triple to single digits. Analogous to the ebb and flow of trading volume during market cycles, APR experiences similar waves driven by demand and on-chain activity.
At the heart of Pendle lies two pivotal phenomena:
Yield Tokenization
This concept revolves around transforming a token that generates yield, staked within a smart contract, into a Yield Bearing Token. Pendle ingeniously wraps and divides these yield-bearing tokens into two distinct components: the principal token (PT), representing the intrinsic value of the asset, and the yield token (YT), embodying the growing yield value. By separating a yield-bearing token into its PT and YT, Pendle not only enhances liquidity but also elevates DeFi to unprecedented heights, all while investors continue to earn their staking/LP APY.
Yield Trading
With the yield-bearing token now partitioned into its constituent parts, an opportunity arises for trading. Both the PT and YT can be exchanged utilizing Pendle’s core Automated Market Maker (AMM) engine. This amalgamation of Yield Tokenization and Yield Trading empowers DeFi enthusiasts to implement a myriad of advanced yield strategies.
Together, these innovations lay the groundwork for a new era in decentralized finance, offering enthusiasts the tools and opportunities to navigate and capitalize on the dynamic world of yield generation.
Pendle Finance has risen to the top as one of the top yield protocols as it boasts of a $4 billion in TVL on-chain at the time of writing.
PENDLE, the native token of Pendle Finance
PENDLE's token utility and tokenomics play a vital role in shaping the platform's governance and value accrual mechanisms. PENDLE token holders wield governance power through vePENDLE, acquired by staking PENDLE tokens for varying periods, up to two years. During this staking period, vePENDLE's value gradually diminishes until it reaches zero at the end of the term when the staked tokens are released.
Furthermore, Pendle implements a 3% fee on all yield generated through Yield Tokens (YT), which is then distributed proportionally among vePENDLE holders based on their vePENDLE weight. This fee serves as revenue for the platform and incentivizes active participation from vePENDLE holders.
In addition to governance rights and revenue-sharing, vePENDLE holders also enjoy liquidity incentives. By voting on the allocation of liquidity incentives to different pools, vePENDLE holders collectively earn 80% of the swap fees generated by the designated pools.
As for PENDLE's tokenomics, it operates as an ERC-20 utility token with a total and maximum supply of 231,725,335 tokens, with approximately 97 million tokens currently circulating. PENDLE serves as the governance token, facilitating protocol management and the mechanisms of value accrual. Notably, PENDLE follows a hybrid inflationary model, featuring a perpetual 2% inflation rate.
Trade ENA and PENDLE on Demex
The Ideal DEX for Your Trading Needs
Demex stands out as the ultimate decentralized exchange (DEX) for traders looking to engage in perpetual markets. Built specifically for perpetual traders, Demex offers both Pro Mode and Lite Mode. Pro Mode provides advanced tools like take-profit and stop-loss orders, empowering traders to execute sophisticated trading strategies with ease. On the other hand, Lite Mode offers instant trading on the go, catering to traders who prefer a streamlined and user-friendly experience. Moreover, Demex boasts deep liquidity and tight spreads for perpetual markets, ensuring a seamless trading experience for users by facilitating efficient order execution and minimizing slippage.
Maximize Your Rewards with Perpetual Trading
Trading perpetual contracts on Demex not only allows you to capitalize on market opportunities but also enables you to maximize your rewards. Through trading on Demex, you can earn Demex points and carbon credits. Demex points serve as part of the platform's loyalty program, enhancing your share of future offerings and providing access to exclusive benefits. Additionally, carbon credits reward traders for their trading activities and can be utilized to offset trading fees, effectively reducing your trading costs and enhancing your overall profitability.
P.S. for every $10,000 you trade on any perpetual market, you earn $1 spin on the Wheel of Fortune instantly!
Why You Should Trade ENA and PENDLE
ENA and PENDLE tokens, along with their respective protocols, are consistently in the spotlight, making them attractive instruments for trading. With their protocols gaining traction and their tokens subject to market volatility and attention, trading ENA and PENDLE on Demex presents opportunities for profitable trades and strategic positioning. Whether you're looking to capitalize on short-term price movements or to strategically accumulate these tokens for their long-term potential, Demex provides a reliable and efficient platform for trading ENA and PENDLE in the dynamic cryptocurrency markets.
Calling Liquidity Providers
If you are a DeFi enthusiast looking to earn APY in a passive way, you can opt to provide liquidity for the brand new DeFi Perp Pool! The DeFi Perp Pool is our latest addition of the thematic pools that will cater to providing liquidity for markets for DeFi Protocols. It currently supports ENA and PENDLE perpetual markets but in the future, more markets will be added to this pool.
You can deposit liquidity in this pool to earn market-making fees, funding fees and traders' PnL. If you'd like to learn more about Perp Pools, check out our blog: Experience The Power of Liquidity with Demex’s Perp Pools!
P.S. for every $5oo of liquidity you provide and hold in any perp pool, you earn 1 spin per week on the Wheel of Fortune to collect Demex Points!
The TLDR
Demex introduces two new perpetual markets—ENA-PERP and PENDLE-PERP—for derivative enthusiasts. ENA and PENDLE are native tokens of Ethena Labs and Pendle Finance, respectively. Ethena Labs revolutionizes DeFi with its USDe stablecoin, boasting a 35% APY and introducing the ENA governance token for community-driven governance. Pendle Finance liberates yield through innovative yield tokenization and trading, attracting over $4 billion TVL.
Trading ENA and PENDLE on Demex provides opportunities for profitable trades and strategic positioning. Additionally, by trading Perps depositing liquidity in the DeFi Perp Pool on Demex, traders can earn Demex Points and Carbon Credits, maximizing your earnings!