ENA Token Listing Date Set on OKX: Tokenomics and Trading Highlights

OKX has now declared the spot listing of Ethena, which will allow users to trade the token against USDT starting 17 September at 7:00 AM UTC. The listing will give traders access to $ENA as well as help Ethena Labs continue its mission of spreading blockchain innovation and adoption of the USDe ecosystem.

ENA Token Listing Date on OKX

Ethena is a cryptocurrency exchange listed on one of the largest cryptocurrency exchanges in the world, OKX, which made the official announcement. The new listing will allow users to trade the $ENA against USDT, increasing the number of assets that traders can trade on OKX.

Under the exchange, the spot trading pair will start at 7:00 AM UTC on 17 September. The deposits are open now, and traders can make preparations for the next trading session.

The team of Ethena Labs , which is the developer of the token, is focused on offering new solutions to the blockchain space. Listing $ENA, OKX gives a chance to a broader range of traders to reach the token and engage in its market trading.

Source: OKX Official X

OKX emphasized that the listing does not imply that it is available in every jurisdiction and encourages its users to check local regulations before trading. Like any other digital asset, trading in Ethena is associated with a significant level of risk, and investors are advised to seek legal, tax, and financial advice prior to making investment decisions.

The list indicates that OKX still strives to increase its services and assist other blockchain projects. By introducing the new trading instrument, the traders will have an opportunity to discover new opportunities and enjoy the liquidity and security of one of the most successful exchanges in the industry.

$ENA Tokenomics

Core Contributors (30%): Assigned to the team and advisors. Tokens are subject to 1 1-year 25% cliff with 3-year linear monthly vesting. There are no tokens that are unlocked in front of the cliff.

Investors: Investor tokens in the development of Ethena and Reserve Fund. Same 1-year 25 percent cliff and 3-year monthly vesting.

Foundation: Finances projects to grow the adoption of USDe, develops and funds development, risk assessments, audit, and ecosystem development.

Ecosystem Development & Airdrops (30%): 10% in the case of initial airdrops to users in Rewards Campaigns. The remaining tokens are used to finance incentive campaigns, cross-chain initiatives, exchange collaborations, and projects run by the DAO.

Unlock Schedule: Core Contributors and Investors started vesting from Ethena TGE on March 5, 2024.

The token powers governance, letting holders vote on protocol decisions and delegate expertise. Staked sENA earns rewards, including unclaimed airdrops and 15% of any potential future token supply, incentivizing long-term alignment. sENA is also usable in DeFi apps, while restaked ENA strengthens cross-chain USDe transfers, boosting utility and security across the ecosystem.

Source: Official Website

Ethena Token Price Today

The ENA token is currently trading at $0.6895, showing a slight 1.08% decline over the past 24 hours. It has a market cap of 4.75B and 6.88B ENA in circulation. Trading volume stayed at $435.2, showing that the market is interested in the product as it is set to become an active spot trader on OKX .

Source: Coinmarkcap

Conclusion

The Ethena listing on OKX is an indicator of the increasing market interest in the Ethena ecosystem based on governance. Traders are encouraged to review local regulations and consider potential risks while engaging with this emerging digital asset.