Ethena Airdrop: Seasons 3

Introduction

With Season 2 wrapping up and Season 3 just beginning, it’s the perfect time to get involved. This comprehensive guide will cover all aspects of the Ethena airdrop, including how to claim your ENA tokens from Season 2 and step-by-step instructions on how to participate in Season 3.

Don’t forget to check out our One Click Airdrop Tracker for the most up-to-date information on the latest tasks related to Ethena Airdrop.

Season 2 Wrap-Up

• Season 2 concluded on September 2nd.

Rewards Distribution

• 5% of the total ENA supply was allocated for Season 2 rewards.
• Token allocation will be distributed during the week of September 30th, following the final vesting date on September 29th.
• Users can check their ENA claim amount at claim.ethena.fi.

Introducing Season 3

Season 3 began automatically on September 2nd and will run until March 23rd, 2025.

Key Highlights

• sENA is introduced as a liquid receipt token with a 7-day cooldown, replacing the previous locked ENA system.
• sENA holders will earn the largest daily multiplier for rewards at 40x in Season 3.
• Composability: sENA can be used across various DeFi platforms like Pendle, Morpho, Aave, and more.

How to Participate in the Ethena Season 3 Airdrop

Participating in the Ethena Season 3 airdrop is straightforward. Follow these steps to start earning ENA tokens:

1. Go to the Ethena Platform

• Visit app.ethena.fi/join/oi8fw to access the Ethena application.

2. Connect Your Wallet

• Click on the “Connect Wallet” button.
• Choose your preferred wallet option (e.g., MetaMask, WalletConnect).
• Follow the prompts to authorize the connection.

3. Swap for USDe

• Once your wallet is connected, navigate to the Swap section.
• Select the cryptocurrency you wish to swap (e.g., ETH) and choose USDe as the token you want to receive.
• Enter the amount you wish to swap and confirm the transaction.

By holding USDe, you automatically start accruing points for the Season 3 airdrop rewards.

Benefits of Holding USDe

• Earn Rewards: USDe holdings in approved applications on Ethena Liquidity dashboard will receive 20x rewards and sUSDe held in Morpho, Aave or Curve will receive 5x rewards.
• Liquidity Options: Use USDe in various DeFi platforms to maximize your earnings.
• Eligibility for Boosts: Previous participants receive a 10% reward boost in Season 3.

Rewards Structure for Season 3

Earning Multipliers

• USDe in Approved Applications: 20x rewards.
• sUSDe Holdings: 5x rewards.
• New Pendle Pools:
• USDe with 3-Month Maturity: 25x rewards.
• USDe with 6-Month Maturity: 30x rewards.
• sUSDe with 3-Month Maturity: 20x rewards.
• sUSDe with 6-Month Maturity: 25x rewards.
• Loyalty Boost: 10% reward boost for participants from previous seasons.

Frequently Asked Questions (FAQs)

1. How do I participate in the Ethena Season 3 airdrop?

• Purchase USDe by visiting app.ethena.fi/join/oi8fw.
• Connect your wallet and swap your preferred cryptocurrency for USDe.
• By holding USDe, you start accruing points for Season 3 rewards.

2. How do I claim my ENA tokens from Season 2?

• Visit claim.ethena.fi after September 9th.
• Claim your ENA during the week of September 30th.

3. Am I subject to vesting conditions?

• If you’re among the top 2,000 wallets, 50% of your ENA is subject to a 6-month vesting period.

4. What happens if I reduce my USDe balance?

• Reducing your USDe balance below your 30-day average as of the September 1st snapshot will result in a proportional reduction of your ENA allocation.

5. How does sENA differ from locked ENA?

• sENA is a liquid token with a 7-day cooldown, allowing you to participate in various DeFi platforms, unlike the previous locked ENA.

Conclusion

The Ethena airdrop presents an excellent opportunity for crypto enthusiasts to earn and maximize their ENA tokens. With the introduction of sENA and an enhanced rewards structure in Season 3, there’s no better time to get involved. Follow the steps outlined above to participate in the Season 3 airdrop, claim your ENA tokens from Season 2, and make the most of what the Ethena ecosystem has to offer.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risks, and you should conduct your own research or consult a financial advisor before participating. Happy Farming.

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