Mega Matrix Inc. (NYSE American: MPU) announced a new digital asset treasury (DAT) strategy focused on stablecoin governance tokens, with Ethena’s ENA token as the main reserve asset. The company said the approach is intended to give it an active role in stablecoin governance while building a position in the growing stablecoin sector.
Ethena is a protocol on Ethereum that issues USDe. The ENA token is used for governance and incentives within the protocol. USDe has become the third-largest stablecoin by circulation, after Tether and Circle, reaching over $10 billion in supply within 500 days. The growth has been supported by its DeFi-based model and yield mechanisms. Mega Matrix plans to purchase ENA tokens under its DAT program, depending on market conditions.
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