Ethena is a synthetic dollar protocol built on Ethereum that issues USDe, sUSDe, USDtb and the ENA governance token. Ethena's Twitter Score is 416 out of 1000 (an Excellent rating) as of August 2026, ranking #526 (top 0.5%) among 483,508 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 1,726 posts on the platform. Ethena has been mentioned by 1,771 accounts a total of 6,490 times. Ethena's portfolio includes OnRe and Based.
Who follows Ethena on X?
The accounts that follow Ethena include 1,580 founders, 438 angel investors, 946 influencers and 61 VCs. Among them are Ansem, Toly, Laura Shin, Stani, Michael Saylor and Nic Carter.