Ethena is a synthetic dollar protocol built on Ethereum that issues USDe, sUSDe, USDtb and the ENA governance token. Ethena's Twitter Score is 417 out of 1000 (an Excellent rating) as of September 2026, ranking #524 (top 0.5%) among 489,627 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 1,764 posts on the platform. Ethena has been mentioned by 1,852 accounts a total of 6,789 times. Ethena's portfolio includes OnRe and Based.
Who follows Ethena on X?
The accounts that follow Ethena include 1,615 founders, 447 angel investors, 956 influencers and 63 VCs. Among them are Ansem, Toly, Laura Shin, Stani, Nic Carter and Andrew Kang.