Ethena has been talking about fee conversion governance voting for a year, and it’s finally here—does the recent trend of $ENA look reasonable?
Yesterday (8/27), Ethena announced changes to the token release schedule for the currently unreleased tokens, and also released information about its token buyback.
Well, no wonder Hayes stopped the long-term, steady selling that had been happening this month and suddenly switched to adding positions and publicly calling bullish. Under yesterday’s official X post, there were tons of comments pointing out ENA’s abnormal rally in the near term—claiming that insiders are cutting in line and snatching up the community’s attention.
Honestly, every time this coin suddenly spikes—whether it’s earlier than the broader market’s move or clearly above the average market gain—an official “good news” announcement will inevitably follow shortly afterward. Do they really not care about users at all?
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Key points from yesterday’s announcement:
➤ Changes to the token unlock schedule
The Ethena Foundation will acquire investors’ shares of tokens that are still locked but are willing to sell, via over-the-counter transactions. However, some investors who have long held onto their unlocked tokens without selling did not accept the acquisition offer.
Going forward, the unlocks will be concentrated into a single release on 10/5. Only 12% of the team-related allocation will continue to wait for unlock according to the original schedule.
➤ Fee conversion governance voting is live
After approval, the buyback ratio will be based on the USDe supply target, with the first target being 7.5B USDe.
The funding source for the buyback is 95% of net revenue from all business lines; only 5% is retained for protocol growth.
➤ Ethena Labs’ intellectual property and earnings will be transferred to the Ethena Foundation
This mainly transfers rights to a specific legal entity and does not affect ordinary users. Detailed information will be announced in October.
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Summary
Actually, not long ago, some creators started posting ads on X. At that time, you could already guess Ethena had new moves coming. Sure enough, it suddenly pumped—very clearly different from the overall market trend.
I still won’t recommend proactively adding to ENA. Plainly put, even if there are profits, you’re basically eating the tail-end scraps left over by insiders. The risk and reward don’t match.
If you already have USDe, just use it as usual. Treat the ENA airdrop as free money—but from what it looks like now, the only thing you can really “play” is Meridian’s mPerps incentives.
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● The above does not constitute investment advice (NFA). Users should make decisions according to their own risk tolerance. Please DYOR and participate cautiously in the investment market.
● The attached image is sourced from Ethena
#Ethena #ENA将解锁走势如何 #USDe $ENA #Meridian
Yesterday (8/27), Ethena announced changes to the token release schedule for the currently unreleased tokens, and also released information about its token buyback.
Well, no wonder Hayes stopped the long-term, steady selling that had been happening this month and suddenly switched to adding positions and publicly calling bullish. Under yesterday’s official X post, there were tons of comments pointing out ENA’s abnormal rally in the near term—claiming that insiders are cutting in line and snatching up the community’s attention.
Honestly, every time this coin suddenly spikes—whether it’s earlier than the broader market’s move or clearly above the average market gain—an official “good news” announcement will inevitably follow shortly afterward. Do they really not care about users at all?
-
Key points from yesterday’s announcement:
➤ Changes to the token unlock schedule
The Ethena Foundation will acquire investors’ shares of tokens that are still locked but are willing to sell, via over-the-counter transactions. However, some investors who have long held onto their unlocked tokens without selling did not accept the acquisition offer.
Going forward, the unlocks will be concentrated into a single release on 10/5. Only 12% of the team-related allocation will continue to wait for unlock according to the original schedule.
➤ Fee conversion governance voting is live
After approval, the buyback ratio will be based on the USDe supply target, with the first target being 7.5B USDe.
The funding source for the buyback is 95% of net revenue from all business lines; only 5% is retained for protocol growth.
➤ Ethena Labs’ intellectual property and earnings will be transferred to the Ethena Foundation
This mainly transfers rights to a specific legal entity and does not affect ordinary users. Detailed information will be announced in October.
-
Summary
Actually, not long ago, some creators started posting ads on X. At that time, you could already guess Ethena had new moves coming. Sure enough, it suddenly pumped—very clearly different from the overall market trend.
I still won’t recommend proactively adding to ENA. Plainly put, even if there are profits, you’re basically eating the tail-end scraps left over by insiders. The risk and reward don’t match.
If you already have USDe, just use it as usual. Treat the ENA airdrop as free money—but from what it looks like now, the only thing you can really “play” is Meridian’s mPerps incentives.
-
● The above does not constitute investment advice (NFA). Users should make decisions according to their own risk tolerance. Please DYOR and participate cautiously in the investment market.
● The attached image is sourced from Ethena
#Ethena #ENA将解锁走势如何 #USDe $ENA #Meridian
