24h Change-2.27%
All Time HighApr 11, 2024$1.52
All Time LowJun 10, 2026$0.07
Market Cap$708.69m
Fully Diluted Valuation$1.144b
Circ. Supply9.294b ENA
Max Supply15b ENA
Outstanding FDV$991.37m
CEX Volume$38.4m
DEX Volume$84.46m
Uniswap V3 · Ethereum$20.2m
Aerodrome Slipstream · Base$260,794
Seed · Jul 17, 2023$6m
Strategic · Feb 16, 2024$14m
Private · Mar 8, 2024Undisclosed
Private · Feb 24, 2025$100m
Strategic · Feb 26, 2025$16m
Strategic · Sep 30, 2025$30m
Strategic · Jun 9, 2026Undisclosed
| 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 | $51.44M | $65.10M | $96.15M | $151.08M | $48.72M | $88.69M | $125.89M | $27.74M | $51.03M | $208.67M | $85.19M |
| Mint Fees | $1.09M | $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 | $23.16M | $35.41M | $50.44M | $87.28M | $31.88M | $73.34M | $102.66M | $26.63M | $34.49M | $509 | |
| Extra Rewards | $19.41M | $18.13M | $34.72M | $38.48M | $15.45M | $14.60M | $16.40M | ||||
| Aave Liquidation Fees | $7.76M | $10.90M | $10.52M | $15.12M | |||||||
Cost of Revenue | $50.34M | $64.45M | $95.69M | $140.89M | $47.33M | $87.95M | $119.07M | $26.63M | $34.49M | $509 | $0 |
| sUSDe Staking Rewards | $23.16M | $35.41M | $50.44M | $87.28M | $31.88M | $73.34M | $102.66M | $26.63M | $34.49M | $509 | |
| Extra Rewards | $19.41M | $18.13M | $34.72M | $38.48M | $15.45M | $14.60M | $16.40M | ||||
| Aave Liquidation Fees | $7.76M | $10.90M | $10.52M | $15.12M | |||||||
Gross Profit | $1.09M | $655.42K | $463.26K | $10.18M | $1.39M | $739.80K | $6.81M | $1.11M | $16.53M | $208.67M | $85.19M |
| Mint Fees | $1.09M | $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 | $1.09M | $655.42K | $463.26K | $10.18M | $1.39M | $739.80K | $6.81M | $1.11M | $16.53M | $208.67M | $85.19M |
Risk-management actions published about ENA by tracked risk managers and governance contributors, newest first.
Grayscale added ENA to its DeFi Fund with a 13.59% allocation, marking a significant institutional adoption milestone. The token also launched on Solana via Sunrise DeFi, expanding its multichain presence.
ENA was listed on Robinhood with 13m tokens deposited and went live on Hyperliquid spot via Unit, generating $68m in volume since launch. These expansions highlight growing ecosystem traction without altering risk parameters.
StablecoinX raised an additional $530M, enabling a $310M ENA buyback that now represents ~20% of circulating supply under Foundation oversight, enhancing treasury stability and market liquidity. Listings on OKX for spot trading further boost accessibility and adoption.
ENA is being added as a supply-only collateral asset in the new Euler DeFi market, allowing users to deposit it for liquidity without borrowing exposure to mitigate risks from its governance-driven liquidity profile.
Concluded Season 3 rewards program, distributing 3.5% of total supply (~$178.5M) to active users and stakers, increasing cumulative community allocation to 13.5%.
ENA is the native governance and utility token, sENA is the liquid staking receipt token obtained by locking ENA, USDe is a delta-neutral stablecoin, sUSDe is the yield-bearing staked version of USDe, providing holders with a share of protocol revenue
ENA holders are able to delegate decision-making to a group of expert-level stakeholders called the Risk Committee. Previously there were 5 stakeholders - a proposal passed in January 2026 to reduce the number of stakeholders to 3.
ENA holders can vote bi-annually to elect members to a Risk Committee, and in the future additional committees performing critical roles within the ecosystem. sENA holders will be able to vote on any tokenomics proposals and proposals concerning ENA specifically
Risk Committee directly governs Reserve Fund allocations and revenue diversions. The treasury reeives a portion of protocol revenue
Risk Committee directly governs economic parameters including protocol fees & revenue splits
Conditions have been met to turn the fee switch on, directing revenue to sENA holders, but the switch has not been implemented as of March 2026
Value accrues through ecosystem airdrops to sENA holders and revenue directed to sUSDe holders
Most protocol revenue is paid out to sUSDe holders as rewards
All revenue accrues to the protocol/Foundation, with 100% shared to sENA stakers post-fee switch. Conditions have been met to turn the fee switch on, but it has not been implemented as of February 2026
No buyback mechanism is currently active
Ecosystem applications have set aside material portions of their token supply to be airdropped to sENA holders, most protocol revenue goes to sUSDe holders as yield
No burn mechanism is currently active
An is required to view token usage.
An is required to view token unlocks.
Tracking 9 pools, average APY 8479.79%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabENA-USDC0.30% | $2.03m | 20.50% | 20.50% | 98.63% | |||||
| open in new tabENA-SENA0.3% | $1.57m | 0% | 0% | 0.03% | |||||
| open in new tabENA-WETH0.3% | $501,609 | 11.42% | 11.42% | 67.52% | |||||
| open in new tabRENA-WETH | $219,781 | 0% | 0% | 0.08% | |||||
| open in new tabENAOmnipool | $53,430 | 5.02% | 5.02% | 4.02% | |||||
| open in new tabENA-USDC | 🪂 | $52,167 | 83.55% | 83.55% | 110% | ||||
| open in new tabETH-ENA0.30% | $50,000 | 67579% | 67579% | 2082% | |||||
| open in new tabWETH-ENACL200 - 0.25% | $11,505 | 134% | 10.38% | 165% | |||||
| open in new tabENA-USD₮00.3% | $11,343 | 4.54% | 4.54% | 1.14% |
