How to Deposit ENA on OKX? Ethena Funding Tutorial

ENA is the governance token of the Ethena protocol, deployed on the Ethereum (ERC20) network. The core rule for depositing ENA is simple: the network you select on the OKX deposit page must be exactly the same as the network your ENA token resides on in your wallet. If your wallet holds ERC20 ENA, choose Ethereum (ERC20) when depositing; choosing the wrong network will result in irreversible loss of funds.

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1. Complete OKX Account KYC

What to do: Ensure your OKX account has completed identity verification.

How to do it:

1. Log in to the OKX App or website, go to [Profile] → [Identity Verification].
2. Follow the instructions to submit identity documents and complete standard identity verification.

When it's complete: The account shows "Verified" or "Standard Identity Verification" status.

Accounts that have not completed KYC cannot use the deposit function.

2. Get the ENA Deposit Address on OKX

What to do: Log in to OKX, go to the deposit page, select the network, and get the ENA deposit address.

How to do it:

1. Log in to the OKX App or website, click [Assets] → [Deposit] → [Deposit Crypto].
2. Search for "ENA".
3. Select network: ENA is an ERC-20 token; it is recommended to choose [Ethereum (ERC20)]. OKX supports receiving ENA via the Ethereum network. Refer to the actual network options shown on the deposit page.
4. The page will generate a deposit address (starting with "0x"); copy it.

When it's complete: You have copied the ENA deposit address provided by OKX and confirmed the selected network is Ethereum (ERC20).

Prerequisites: OKX KYC identity verification must be completed. OKX listed ENA spot trading and opened deposits in April 2024.

ENA may exist in different versions on different chains. Before depositing, be sure to confirm the network of the ENA in your wallet. The Ethereum contract address for ENA is subject to the contract displayed on the OKX deposit page.

3. Initiate Transfer from External Wallet

What to do: Deposit ENA from your external wallet (such as MetaMask, OKX Web3 Wallet, etc.) to OKX.

How to do it:

1. Open your external wallet and ensure the current network is switched to the network where your ENA is located (Ethereum Mainnet).
2. Find the ENA asset, click [Send] or [Transfer].
3. Paste the ENA address you copied from OKX (starting with "0x") into the "Recipient address" field.
4. Key step: In the "Select network" section, confirm that the network you choose is exactly the same as the network selected on the OKX deposit page. Both the sending and receiving parties must choose the same coin and network.
5. Make sure you have enough ETH in your wallet to cover the gas fee (Ethereum mainnet transfers require ETH as transaction fee).
6. Submit the transaction.

When it's complete: The transaction has been submitted, the wallet shows "Transaction broadcast" or "Pending", and you have obtained the TxID.

Common failure reasons:

• Wrong network: If OKX selected Ethereum network but the wallet selected another network (such as BSC, Base), the funds will be sent to the wrong chain and will not be credited.
• Insufficient gas fee: The wallet does not have enough ETH to pay the Ethereum transaction fee.
• Incomplete address copy: The ENA address starts with "0x"; after pasting, check the first and last few characters.

Risk warning:

• Network mismatch may cause permanent loss of funds: Depositing to an unsupported network may result in asset loss. ENA is native to the Ethereum network; selecting the wrong network is the most common reason for deposit failure.
• Deposit addresses are unique: The deposit address for each coin on each network is different. Do not use a deposit address intended for other coins or networks for ENA deposits.

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4. Confirm Arrival

What to do: Wait for blockchain confirmations and check your OKX account balance.

How to do it:

1. Use the TxID to check the transaction status on Etherscan. Ethereum mainnet confirmation time depends on gas fees, usually a few minutes to tens of minutes.
2. Log in to OKX, go to [Assets] → [Funding Account] or [Spot Account], and check if the ENA balance has increased.

When it's complete: The ENA balance in your OKX spot account has been updated.

How to confirm you have done it correctly?

Enter the TxID on Etherscan and confirm the transaction status is "Success". Then log in to OKX and see that the ENA balance has increased on the [Assets] page. For first-time operations, it is recommended to send a small test amount first, and after it arrives, transfer the remaining. If it hasn't arrived for a long time, check whether the network selected during deposit matches the wallet transfer network exactly — ENA is an ERC20 token, and using the Ethereum network for deposit is the safest choice.