Ethena (ENA): D-Score 23/100 — Centralized Leaning BlockIndex D-Score: 23/100 (Centralized Leaning). Ethena (ENA) is a Layer 2 cryptocurrency using PoS consensus. Ethena (ENA): Ethereum ERC-20 synthetic-dollar protocol offering a programmable "Internet Bond" for dollar exposure and yield. Source: https://blockindex.ai/coin/ena · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 23: Node distribution: 0: Initial distribution: 0: Governance: 16: Age and history: 7: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: PoS (N/A) - Launch: Other (2024) - Founder: N/A - VC funded: No - Max supply: 15,000,000,000 - Circulating: 9,293,750,000 (62.0%) Market data (as of 2026-06-19) - Price: $0.09 - Market cap: $818.14M - 24h volume: $204.02M - 24h change: -3.72% · 7d change: +11.97% About Ethena (ENA) is presented in the provided materials as a synthetic-dollar protocol and ERC-20 token on Ethereum that aims to provide crypto-native dollar exposure and a programmable savings instrument referred to as the "Internet Bond." The project positions itself as a DeFi primitive that enables dollar-denominated exposure without relying on traditional banking rails, targeting users who seek a yield-bearing, dollar-like instrument within the crypto ecosystem. The supplied inputs emphasize market presence — including a large maximum supply, circulating supply snapshot, market-cap figures and trading volume — rather than a detailed set of project-authored technical specifications, governance documentation, or team biographies. As a result, the available profile focuses on token-level economics and market-facing claims. Technically, Ethena is an Ethereum-native ERC-20 token. The summary materials do not include a project-authored whitepaper or an on-chain governance specification in the provided extracts, nor do they provide granular details about oracle architecture, collateral mechanics, or the smart-contract modules that implement the Internet Bond concept. The token inherits Ethereum’s consensus context (post-merge Proof-of-Stake) and thus does not operate as an independent layer-1 blockchain. The provided sources also do not list a public GitHub, release cadence, or specific language choices for core contracts; those details would normally be required to assess audit coverage, code maturity, and upgrade mechanisms but are absent from the inputs. From a tokenomics standpoint, the available snapshots report a max supply of 15,000,000,000 ENA and a circulating supply of approximately 7,690,625,000 ENA (about 51.27% of max). Market snapshots in the provided data show a price of roughly $0.209234 at the time of the capture, with a market capitalization of approximately $1.609 billion and a 24-hour trading volume near $280.77 million. The record of an all-time high price of $1.52 on April 11, 2024 is present in the source material, along with an all-time low entry in October 2025 reported in the extracts. The provided files do not include explicit premine, founder allocation, or PIP/initial-public-percentage disclosures; where such distribution details are missing, they must be sourced from the project’s tokenomics documentation or official contracts for precise allocation breakdowns. In terms of ecosystem and integrations, Ethena is tracked on major market aggregators (CoinMarketCap and CoinGecko were cited) and appears on at least two Tier-1 centralized exchanges (Coinbase and Bitget) plus Curve as a decentralized liquidity venue in the verified exchange excerpt. The infrastructure services and developer resources mentioned in the inputs include Chainz/Cryptoid as an explorer reference, CoinMarketCap’s DEX-mode explorer links, CoinMarketCap API and related developer pages, and a Chainlink mention in the scraped context (no explicit ENA–Chainlink integration details provided). Wallet support information in the verified dataset was not found; the verified CoinGecko/CoinMarketCap-derived ecosystem lists show zero wallets explicitly verified for ENA in the provided inputs, suggesting that custody via exchanges and general ERC-20 wallet compatibility (e.g., any Ethereum-compatible wallet) would be the default user path rather than bespoke wallet integrations. Governance and organizational details are not present in the supplied extracts: there is no named CEO or corporate entity, no explicit DAO structure, and no formal governance model provided. The DScore extraction pass included in the combined data likewise marked many governance, premine and node-count fields as unknown. For users or analysts seeking a deeper decentralization, governance, or security assessment, the next step would be to consult Ethena’s official tokenomics documents, smart contract sources, audit reports and on-chain contract interactions (including on Etherscan) to verify treasury allocations, owner/administrator privileges, timelocks, and oracle trust models. Based strictly on the supplied inputs, Ethena is best characterized as an Ethereum ERC-20 DeFi token offering synthetic dollar exposure and a programmable savings primitive with notable market visibility but limited publicly provided technical and governance disclosures in the provided dataset. Links - Website: https://www.ethena.fi/ - Whitepaper: https://ethena-labs.gitbook.io/ - GitHub: N/A --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore