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The Edge Podcast

DeFi Dad and Nomatic interview crypto investors and builders about DeFi protocols, onchain markets, and investment theses.

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The Edge PodcastEN · 52 min

Is It Time to Buy ENA? Ethena Pay, The Equity Basis Trade, and The Token Cleanup

DeFi DadLito

Ethena Pay pairs a non-custodial, chain-abstracted global neobank with USDe’s yield engine, targeting balance monetization as net interest margins contribute 37% of Robinhood’s revenue and about 25% of Revolut’s.Equity-basis trading is expected in “literally a few days,” while ENA’s remaining investor vesting was accelerated to October 5 as described at recording; over 10,000 awaited access and a US launch was targeted in three to four weeks.