Press Release
ENA Now Live on Solana via Sunrise as Ethena Deepens Solana Footprint
Sunrise has listed ENA, the governance token of Ethena, on Solana with canonical, liquid markets across the network's primary venues. The listing extends a two-year Ethena buildout on Solana that has tracked the rise of synthetic dollars as onchain stablecoin infrastructure, starting with USDe's integration across Solana DeFi, then USDtb's role in backing Jupiter's JupUSD, and now Ethena's governance asset itself.
ENA is now tradable on Solana through Jupiter, Meteora, Phantom, Solflare, Mayan, and the broader Solana DeFi stack. Solana users no longer leave the network to access Ethena's governance layer.
Synthetic Dollars Become Solana DeFi Infrastructure
Synthetic dollars, designed to scale independently of traditional bank custody, have moved from a niche product category to a core part of how stablecoin liquidity forms onchain. The shift is visible at the venue level: Solana alone processed a record $650 billion in stablecoin volume in February 2026. Ethena's USDe sits among the largest assets in the category. On Solana, Ethena has been ramping its presence since 2024. USDe is now embedded across the chain's DeFi stack, and the protocol is doubling down on Solana as a primary venue.
Ethena's institutional dollar, USDtb, took the integration a step further in February 2026, when Jupiter launched JupUSD with USDtb as part of its backing. Ethena crossed from a stablecoin listed on Solana to a stablecoin contributing reserve to one of Solana's flagship dollar products.
Solana's role in this expansion has not been incidental. The chain's stablecoin velocity and DeFi ecosystem growth make it a natural home for synthetic dollar growth at scale, and Ethena has integrated into it accordingly.
ENA Arrives Where the Activity Already Is
ENA is the governance token of Ethena, the asset that elects the protocol's Risk Committee, votes on policy decisions, and defines how USDe is collateralized and managed. With ENA listed on Solana, the governance asset now sits on the chain where Ethena's stablecoin economy is already most active.
For Solana users, the listing closes a participation loop: holding USDe, using it across Solana DeFi, and now holding the asset that governs the protocol behind it — all on a single chain.
“We have a long way to go before we achieve truly permissionless money. What originally excited me about Ethena was its mission to create synthetic dollars outside the traditional banking system. Permissionless money has the potential to create a fairer and more open financial world. We're excited for Ethena to use its expertise in building synthetic dollars to help bring that vision to life.” — Saeed Badreg, CEO, Wormhole Labs
“Ethena and Solana have grown increasingly aligned over the past two years. ENA's listing on Sunrise extends that alignment, placing the asset on a network where Ethena's presence continues to deepen.” — Guy Young, Founder, Ethena Labs
About Sunrise
Sunrise is the day one asset gateway of Solana. Sunrise enables new onchain assets—crypto, stocks, commodities, and more—to list on Solana with liquidity on day one, giving users and builders immediate access to live, tradable markets. Sunrise is made by Wormhole Labs.
About Ethena
Ethena is a synthetic dollar protocol and the issuer of USDe and sUSDe. Founded by Guy Young in 2023, Ethena designs financial products that operate independently of traditional banking infrastructure. Ethena integrates with major DeFi protocols across Ethereum, Solana, and other networks. More at ethena.fi.
About Wormhole Labs
Wormhole Labs is a technology company that specializes in building products, tools, and reference implementations to expand the cross-chain ecosystem. They are committed to open-source development and laying down the paths for a connected decentralized world.
Contact
Email: contact@sunrise.xyz
Twitter / X: @sunrise