Ethena’s ENA token is now live on Solana, according to an announcement from Solana. The integration with Sunrise DeFi enables ENA, Ethena’s synthetic stablecoin protocol, to operate on the Solana blockchain, expanding its multichain presence beyond Ethereum.

Ethena is a stablecoin protocol that generates yield through delta-neutral trading strategies. ENA, the protocol’s governance token, was previously available on Ethereum. The Solana integration marks a significant expansion of ENA’s accessibility, allowing Solana users and developers direct access to Ethena’s stablecoin and tokenomics.

Sunrise DeFi serves as the integration partner, handling the technical implementation to bring ENA to Solana’s ecosystem. The move aligns with a broader trend of major DeFi protocols expanding across multiple blockchains to capture ecosystem-specific liquidity and user bases.

Sources: Solana

This article was produced with the help of AI flows.