【Ethena major changes to tokenomics, VC unlocks all cut off 🔥📜⚡】

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Here’s what’s going on
Ethena has modified four rules in one go
All aimed at reducing sell pressure 😱

First, look at the first one
The foundation directly bought out the lockup of seed-round tokens
These people sold ENA within nine months
All remaining locked allocation has been cleared
So if you want to dump, there’s nothing left 👀

More importantly,
The once-a-month VC unlock has been canceled
Unvested tokens are released all at once early
Sounds scary
But actually it’s defusing future risks 📜

And here’s the big move
The fee switch proposal is already live
All protocol net revenue is used to repurchase ENA
The profit is no longer sitting in the treasury
It’s real money buying back 🔥

In simple terms
All protocol value is allocated back to token holders
And governance rights have been taken back too
Going forward, how to distribute value—holders decide 🤔

Plus, the vote is already open
The Risk Committee has also given the approval
All that’s left is for token holders to give the final go-ahead ✅

📌 Ethena cuts VC unlocks, launches buybacks—token value accelerates toward holders. In the short term, watch for volatility from early unlocks; long term, the fee switch landing is a solid positive.

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