Ethena ($ENA) just made a pretty big move đđ„
âą Bought back locked ENA from certain early investors who sold ENA over the past 9 months.
âą Protocol value and IP will sit exclusively with the Foundation and be governed by $ENA holders, with no residual cash flow going to Ethena Labs equity investors.
âą A fee switch proposal is now live to use net revenue across Ethenaâs businesses for programmatic $ENA buybacks.
âą Future monthly VC unlock overhang is being removed, while team tokens remain locked under their original vesting schedules. đ
This could be a major step for $ENA tokenomics and the future of the protocol đđ„
âą Bought back locked ENA from certain early investors who sold ENA over the past 9 months.
âą Protocol value and IP will sit exclusively with the Foundation and be governed by $ENA holders, with no residual cash flow going to Ethena Labs equity investors.
âą A fee switch proposal is now live to use net revenue across Ethenaâs businesses for programmatic $ENA buybacks.
âą Future monthly VC unlock overhang is being removed, while team tokens remain locked under their original vesting schedules. đ
This could be a major step for $ENA tokenomics and the future of the protocol đđ„
