Ethena is a synthetic dollar protocol built on Ethereum that issues USDe, sUSDe, USDtb and the ENA governance token. Ethena's Twitter Score is 397 out of 1000 (an Excellent rating) as of July 2026, ranking #616 (top 0.5%) among 389,587 tracked accounts.
Ethena operates as a decentralized synthetic dollar system in which USDe is backed by crypto assets and delta-hedged derivatives positions. USDtb, a separate stablecoin within the ecosystem, is backed by BlackRock's USD Institutional Digital Liquidity Fund Token, BUIDL, alongside Circle's USDC. ENA governance token holders vote to elect Risk Committee members, giving the community a direct role in protocol oversight. The Ethena Network initiative supports protocols building sUSDe-enabled applications.
Ethena is backed by DragonFly Capital, YZi Labs (previously Binance Labs), Delphi Ventures, OKX Ventures and World Liberty Financial. The protocol maintains affiliations with Aave, Hyperliquid, Morpho, Pendle, and Anchorage Digital, as well as Coinbase. Ethena also works with Centrifuge as a strategic tokenization partner and has ties to Janus Henderson Investors.
Ethena has published 1,699 posts on the platform. Ethena has been mentioned by 1,586 accounts a total of 6,030 times. Ethena's portfolio includes Based.
Who follows Ethena on X?
The accounts that follow Ethena include 1,329 founders, 344 angel investors, 1,078 influencers and 72 VCs. Among them are Laura Shin, Ansem, Toly, Michael Saylor, Stani and Nic Carter.