Greetings, Pi42 traders!
We’re thrilled to announce the arrival of Ethena (ENA) on our platform. Now, Indian investors can leverage Pi42 to explore the Ethena governance token – ENA with INR pairs.
What is Ethena (ENA)?
Ethena tackles the stablecoin landscape with a unique approach, offering a synthetic dollar called USDe. Unlike traditional stablecoins pegged directly to fiat currencies, Ethena utilizes a delta-neutral strategy to maintain USDe’s value at $1. This strategy involves automatically adjusting positions to offset any potential price fluctuations in the underlying collateral assets.
Here’s what makes Ethena stand out:
- Decentralized Stability: Ethena operates on the Ethereum blockchain, aiming to provide a stablecoin solution independent of traditional banking systems.
- Algorithmic Management: The delta-neutral strategy automates adjustments, potentially offering greater stability compared to manually managed systems.
- Yield Generation Opportunities: Ethena offers users the potential to earn rewards through various mechanisms, like staking ENA tokens.
Key Features of Ethena (ENA) on Pi42:
- Direct INR Trading: Seamlessly Trade ENA pair using Indian Rupees (INR) for easy accessibility.
- Competitive Spreads: Pi42 strives to provide competitive bid-ask spreads, potentially leading to favorable execution prices for your trades.
- Secure Trading Environment: Our platform prioritizes security to safeguard your crypto investments.
Market Overview(30th May, 2024):
Market Cap: $1.29 B
Circulating Supply: 1.52 B ENA
Price: ₹75.21
1-Year Growth: 23.73%
Benefits of Trading Ondo (ONDO) on Pi42:
Tax Efficiency:
No TDS (Tax Deducted at Source): Simplify your tax calculations and avoid upfront deductions on your crypto trades.
No VDA Tax (Virtual Digital Asset Tax): Benefit from the absence of this recently proposed tax in India
Loss Offsetting: Offset potential losses from your crypto trades with your gains for tax optimization purposes.
Thinner Spreads: Pi42 strives to provide competitive bid-ask spreads, potentially leading to more favorable execution prices for your trades.
Ready to Explore Ethena (ENA)?
Here’s a quick guide to get you started:
Login: Access your Pi42 account.
Navigate: Head to the trading terminal.
Select the Pair: Choose ENA-INR from the dropdown menu.
Define Your Position: Enter your desired investment amount, select your preferred leverage (if applicable), and adjust the percentage according to the minimum asset requirements.
Set Limits (Optional): Establish Take Profit and Stop Loss orders to manage your risk.
Execute Your Trade: Click “Buy/Long” or “Sell/Short” based on your market analysis.
Track Your Trade: Monitor your open positions in the “Orders and Positions” section below the trading chart.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.