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The funds will be used to support building out a new chain for the Ethena network and its broader ecosystem, as well as the upcoming launch of its institutional product, iUSDe

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Ethena raises $100 million in private ENA token sale to build out new chain and institutional product

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Ethena Foundation will use the proceeds from the sale of ENA tokens to launch the staking rewards token iUSDe for traditional financial institutions, in addition to their existing sUSDe staking rewards token for general usage

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