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Ethena(ENA)

Total Value Locked$4.844b

TVL by Chain

Ethereum$4.84b

TON$3.74m

Key Metrics

Fees (Annualized)$363.67m

Fees 30d$16.45m

Ethereum$16.45m

Fees 7d$4.53m

Ethereum$4.53m

Fees 24h$203

Ethereum$203

Cumulative Fees$996.44m

Ethereum$996.44m

Revenue (Annualized)$12.39m

Revenue 30d$116,039

Ethereum$116,039

Revenue 7d$20,560

Ethereum$20,560

Revenue 24h$203

Ethereum$203

Cumulative Revenue$332.85m

Ethereum$332.85m

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$12.39m

Earnings 30d$116,039

Earnings 7d$20,560

Earnings 24h$203

Cumulative Earnings$332.85m

Market Cap$863.41m

$ENA Price$0.093

All Time High$1.52

All Time Low$0.07

Fully Diluted Valuation$1.394b

Outstanding FDV$1.205b

$ENA Volume 24h$100.46m

CEX Volume$60.31m

DEX Volume$132.59m(131.98% of total)

$ENA Liquidity$20.46m

Uniswap V3$20.2m

Aerodrome Slipstream$260,794

Total Raised$166m

Jul 17, 2023$6mRound: SeedInvestors: Dragonfly Capital, Maelstrom, Deribit, Bybit, Mirana Ventures, OKX Ventures, BitMEX, Gemini, Lightspeed Faction, Huobi Ventures, Nascent, BlockTower Capital, Delphi Digital, Wintermute Ventures, GSR, CMT Digital, Tangent, Finality Capital Partners, No Limit Holdings, Cobie, Anthony Sassano, Julian Koh, Jai Prasad

Feb 16, 2024$14mRound: Strategic Investors: Dragonfly Capital, Maelstrom

Mar 8, 2024Round: PrivateInvestors: Binance Labs

Feb 24, 2025$100mRound: PrivateInvestors: Franklin Templeton Investments, Pantera Capital, Polychain Capital, Dragonfly Capital, STIX, F-Prime Capital

Feb 26, 2025$16mRound: StrategicInvestors: MEXC Ventures

Sep 30, 2025$30mRound: StrategicInvestors: MEXC Ventures

Jun 9, 2026Round: StrategicInvestors: Janus Henderson Investors

Ethena(ENA)

Total Value Locked$4.844b

TVL by Chain

Ethereum$4.84b

TON$3.74m

TVLFees

Key Metrics

Fees (Annualized)$363.67m

Fees 30d$16.45m

Ethereum$16.45m

Fees 7d$4.53m

Ethereum$4.53m

Fees 24h$203

Ethereum$203

Cumulative Fees$996.44m

Ethereum$996.44m

Revenue (Annualized)$12.39m

Revenue 30d$116,039

Ethereum$116,039

Revenue 7d$20,560

Ethereum$20,560

Revenue 24h$203

Ethereum$203

Cumulative Revenue$332.85m

Ethereum$332.85m

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$12.39m

Earnings 30d$116,039

Earnings 7d$20,560

Earnings 24h$203

Cumulative Earnings$332.85m

Market Cap$863.41m

$ENA Price$0.093

All Time High$1.52

All Time Low$0.07

Fully Diluted Valuation$1.394b

Outstanding FDV$1.205b

$ENA Volume 24h$100.46m

CEX Volume$60.31m

DEX Volume$132.59m(131.98% of total)

$ENA Liquidity$20.46m

Uniswap V3$20.2m

Aerodrome Slipstream$260,794

Total Raised$166m

Feb 16, 2024$14mRound: Strategic Investors: Dragonfly Capital, Maelstrom

Mar 8, 2024Round: PrivateInvestors: Binance Labs

Feb 24, 2025$100mRound: PrivateInvestors: Franklin Templeton Investments, Pantera Capital, Polychain Capital, Dragonfly Capital, STIX, F-Prime Capital

Feb 26, 2025$16mRound: StrategicInvestors: MEXC Ventures

Sep 30, 2025$30mRound: StrategicInvestors: MEXC Ventures

Jun 9, 2026Round: StrategicInvestors: Janus Henderson Investors

Protocol Information

Ethena is a synthetic dollar protocol built on Ethereum

CategoryBasis Trading

Website GitHub Twitter

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Yields

Pools Tracked1

Average APY3.55%

Income Statement for Ethena

	Q2 2026*	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023
Gross Protocol Revenue	$48.12M	$65.10M	$96.15M	$151.08M	$48.72M	$88.69M	$125.89M	$27.74M	$51.03M	$208.67M	$85.19M
Mint Fees	$1.07M	$655.42K	$463.26K	$10.18M	$1.39M	$739.80K	$3.62M	$84.29K	$2.41M	$197.07M	$85.19M
Reserve Fund							$3.19M	$1.02M	$14.11M	$11.60M
sUSDe Staking Rewards	$21.95M	$35.41M	$50.44M	$87.28M	$31.88M	$73.34M	$102.66M	$26.63M	$34.49M	$509
Extra Rewards	$18M	$18.13M	$34.72M	$38.48M	$15.45M	$14.60M	$16.40M
Aave Liquidation Fees	$7.08M	$10.90M	$10.52M	$15.12M
Cost of Revenue	$47.04M	$64.45M	$95.69M	$140.89M	$47.33M	$87.95M	$119.07M	$26.63M	$34.49M	$509	$0
sUSDe Staking Rewards	$21.95M	$35.41M	$50.44M	$87.28M	$31.88M	$73.34M	$102.66M	$26.63M	$34.49M	$509
Extra Rewards	$18M	$18.13M	$34.72M	$38.48M	$15.45M	$14.60M	$16.40M
Aave Liquidation Fees	$7.08M	$10.90M	$10.52M	$15.12M
Gross Profit	$1.07M	$655.42K	$463.26K	$10.18M	$1.39M	$739.80K	$6.81M	$1.11M	$16.53M	$208.67M	$85.19M
Mint Fees	$1.07M	$655.42K	$463.26K	$10.18M	$1.39M	$739.80K	$3.62M	$84.29K	$2.41M	$197.07M	$85.19M
Reserve Fund							$3.19M	$1.02M	$14.11M	$11.60M
Incentives	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Earnings	$1.07M	$655.42K	$463.26K	$10.18M	$1.39M	$739.80K	$6.81M	$1.11M	$16.53M	$208.67M	$85.19M

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Ethena(ENA)

TVL by Chain

Key Metrics

TVL by Chain

Key Metrics

Protocol Information

Methodology

Yields

Income Statement for Ethena

Income Statement for Ethena

Income Flow Visualization

Income Flow Visualization

Ethena(ENA)Bookmark

TVL by Chain

Key Metrics

TVL by Chain

Key Metrics

Protocol Information

Methodology

Yields

Income Statement for Ethena

Income Statement for Ethena

Income Flow Visualization

Income Flow Visualization

Ethena(ENA)