ENA thesis = Explosive growth of Existing Products + Product Expansion + Strengthening ENA economics. Here is the summary of the 10 catalysts. A. Growth of Existing Product Lines (USDe, USDtb) 1. USDe reaching $7.2B Market Cap, on track to hit $10B within the current growth phase 2. sUSDe providing one of the highest APY across other Bluechip DeFi opportunities 3. USDtb organic growth by integrating with Aave to bring additional revenue to the protocol 4. USDtb is on the path to be compliant with the U.S. GENIUS Act which can strengthen the credibility of USDe’s backing B. ENA Strong Fundamentals 5. ENA Fee Switch is inching closer 6. ENA is still trading at an attractive FDV/Revenue at 18.39 despite ENA jumping for 41% in the past month. For reference, CRCL is trading at a 22.74 P/S ratio 7. StablecoinX becoming the microstrategy for ENA, opening ENA's access to the US capital markets, potentially increasing the demand for ENA C. Product Expansion 8. The launch of Converge, powered by Ethena, Securitize, Arbitrum, and Celestia to bring TradFi and DeFi together 9. Top DeFi Protocols and Tokenized Assets are set to launch on Converge including Pendle, Aave, Morpho, Maple, Hamilton Lane, and Centrifuge 10. Pre-Deposit Vaults launched by Converge's ecosystem projects have reached $900M TVL more details in the thread below: