Dive into the crypto ecosystem with Ethena — our newest Learn course

Crypto · 18 September 2024Diogo Costa

Cryptocurrencies are volatile and not regulated or protected by investor compensation schemes – value can go down or up. Trading may be subject to tax.

Meet Ethena — a platform that aims to create a stable crypto dollar (USDe), as a solution for money that’s not reliant on traditional banking.

Pushing stablecoin boundaries

Unlike other stablecoins that are directly tied to the value of a traditional currency like euros or dollars, USDe is primarily backed by digital assets.

Learn about its native token

While the focus of Ethena is on nurturing USDe, its native token is ENA. It has lots of uses within the Ethena platform, including rewards and granting voting rights.

Go back to basics

Build your knowledge with our Crypto Basics lesson if this is your first venture into Learn. Our short lessons cut through the jargon and make crypto easier to understand, even if you’re a total newbie

Ready to start learning?

  • Make sure you’ve got the latest version of the app
  • Tap Crypto in the bottom menu → Discover → scroll to Learn
  • Choose your course
  • Take the quiz with your new knowledge

Rewards are not available to UK customers.

Decentralised Finance (DeFi) tokens risks:
• Smart contract risk: weaknesses in contracts, like bugs, can lead to significant losses
• Scam risk: tokens may be created by groups who have no intention of developing the project, resulting in investors losing all funds
• Data risk: some DeFi businesses may rely on third-party data sources, which could be vulnerable to hacks or disruption, causing loss in value
• Protocol complexity: DeFi protocols can be extremely complex to understand, which makes it more difficult to make informed decisions
Stablecoins distinct risks:
Collateral risk: Fluctuations in the value of collateral may impact price stability
Redemption risk: Redemption processes might not work efficiently during market volatility or operational incidents
FX risk: Depending upon your base currency, exposure to exchange rate fluctuations (from/to USD) may impact the value of your investment
Counterparty risk: The management of collateral maintenance depends upon third-parties, over which you have no control
Take time to educate yourself. These token-specific risks are additional to the general risks of cryptoassets. Learn more about the risks.
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