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Interpretation of the ENA project (vernacular)
How does the ENA stablecoin project make money
sucker stake ena
The project party buys ETH spot
At the same time, open a short order for ETH
Sucker redemption ena
The project team sells ETH
Flat short order Position
Earn money: Eat short order rate, and then give stake sucker Dividend
Theoretical situation: 0.01%*3*365=10.95% annualized
The reality is that short orders plus leverage are much higher than 10.95% annualized.
Risks:
The short order Get Liquidated of the project team if the project team does not manage leverage and Margin reasonably
The funding rate is negative, and the rate is reversed
This risk is not a big problem, because a market is always upward in the long run
Long-term long is always long than shorting

Summary: If the project party is properly managed, it is a feasible project to operate stably for a long time
I'm afraid of floating
The stablecoin project has a luna shadow, so get involved a little.