The cryptocurrency market has been shaken by two important developments recently. Ethena, the decentralized finance (DeFi) protocol known for its $1.3 billion USDe token, announced that it will distribute a governance token called ENA to its users through an airdrop to be held on April 2. This development created excitement among altcoin investors. On the other hand, the US Commodity Futures Trading Commission (CFTC) and the US Attorney’s Office for the Southern District of New York filed a lawsuit against KuCoin. These developments led to a significant outflow of assets from the stock market and caused a general decline in the market. As a result, the exchange decided to conduct an airdrop. In this news, we will examine the airdrop announcements of Ethena and KuCoin.
Ethena announces governance token airdrop with $1.3 billion USDe token
Decentralized finance (DeFi) protocol Ethena is known for its $1.3 billion USDe token. The protocol announced that it will distribute a governance token called ENA to its users through an airdrop to be held on April 2. 750 million ENA tokens will be distributed, representing 5% of the total supply. The ENA token can be used to participate in the governance of the Ethena protocol. Token holders will have a say in deciding the future of the protocol. The airdrop is considered an attempt to expand Ethena’s user base and increase adoption of the protocol.
To be eligible for the airdrop, users must earn shards by April 1. Users who bought back, unlocked or sold their USDe before this date will not be accepted into the airdrop. Starting the day after the airdrop, users will be able to claim their tokens and ENA will also be listed on central exchanges.
KuCoin will hold a $10 Million altcoin and BTC airdrop
cryptokoin.com As we reported, the US Commodity Futures Trading Commission (CFTC) and the US Attorney’s Office for the Southern District of New York filed a lawsuit against the KuCoin cryptocurrency exchange on charges of Bank Secrecy Act violations and unlicensed money transfer. These developments led to a significant outflow of assets from the stock market. It was reported that $1.7 billion worth of crypto assets were withdrawn from KuCoin in the last 24 hours.
During these withdrawal transactions, some users waited for a long time to complete their transactions. KuCoin CEO Johnny Lyu apologized for this waiting period and announced that they would launch a special airdrop worth a total of $10 million in KCS and BTC to appreciate the support and patience of users. Airdrop rules will be officially announced within two days.
As a result, Ethena’s airdrop and the accusations against KuCoin created excitement and uncertainty in the cryptocurrency market. While Airdrop offers investors a new earning opportunity, developments in KuCoin are being watched with curiosity. It is a matter of curiosity how the cryptocurrency market will react in the coming days.
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