Ethena is a decentralised finance (DeFi) protocol that creates scalable, censorship-resistant financial instruments. Its core products include USDe, a crypto-native synthetic dollar stabilised through derivatives, and sUSDe, the first "Internet Bond," providing yield-generation opportunities. Ethena addresses issues of centralisation and reliance on traditional banking systems, offering a decentralised solution for global users. The protocol’s governance token, ENA, enables decision-making, staking rewards, and economic security, fostering long-term ecosystem growth. Founded by Guy Young, Ethena Labs is supported by a distinguished risk committee and notable investors, including Arthur Hayes. Ethena aims to redefine DeFi with applications like Ethereal and cross-chain integrations, creating a self-sufficient financial system.