Ethena just updated the Season 4 airdrop, adding parts related to HyENA. Looks like they’re going all-in on the Perps market. For users eligible for rewards exceeding 200 million, you need to deposit and hold HLPe or USDe on HyENA for at least 2 consecutive weeks. The deposit amount required is 1 USDe for every 2 million rewards. Based on the baseline of 200 million rewards, that’s 100 USDe. In addition to the deposit, users need to make at least one transaction of any size on HyENA. Rewards will be distributed in uENA (ENA version on Hyper). The first batch will start in late December, with a two-month window period lasting until the end of February. During these two months, you can choose any consecutive 2-week period to make your deposit.