Ethena Staked ENA (SENA) is a staked version of the Ethena (ENA) token, which is part of the Ethena decentralized finance (DeFi) platform built on the Ethereum blockchain.

Key Features

• Staking Mechanism: Users can stake their ENA tokens to receive SENA, accumulating rewards over time. The value of SENA increases as distributions are transferred into the staking smart contract, similar to a token vault mechanism.

• Reward Accumulation: Holders of SENA do not directly earn rewards; instead, the value of SENA increases over time as rewards accumulate within the staking contract.

• Unstaking Process: There is a cooldown period of 7 days after unstaking SENA, after which the unstaked ENA becomes available for withdrawal.