Ethena Foundation announced a large-scale restructuring of its tokenomics. The project not only launches buybacks, but also completely removes the main fear of investors โ the monthly outflow of tokens from early venture funds.
Key details of Tokenomics 2.0:
โข Full buyback of early VC shares: The Foundation bought back locked tokens from seed investors through OTC agreements.
โข Cancellation of monthly unlocks: The unlock schedule for investors is now a thing of the past โ the remaining tokens will be released in a single event (October 5, 2026), fully removing the pressure of a constant monthly โsales cap.โ Team tokens remain subject to the initial badge unlocks.
โข Transfer of revenue rights: Thanks to the Master Framework Agreement, all intellectual property and protocol profits are transferred to the custody of the Ethena Foundation under the management of $ENA holders, not the corporate company Ethena Labs.
โข 95% Buyback mechanism: After the $USDe capitalization reaches the $7.5B milestone, 95% of net profits from stablecoins, USDe Savings, and Ethena X will go to a market buyback of $ENA. The remaining 5% will be used for operational development.
By removing the endless pressure of venture investor unlocks and linking the token price to the protocolโs real cash flow, Ethena sets a new standard for DeFi projects.
Are you ready to accumulate $ENA amid a fundamental turnaround, or are you waiting for confirmation that the USDe supply growth reaches $7.5B?
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