Ethena Labs Updates ENA Tokenomics and Launches Universal Staking Function

Bittime -Ethena Labs has announced a significant update to their ENA token and staking system. Read more about Tokenomic ENA and other upgrades in this article!

Updated ENA Tokenomics and Universal Staking

The announcement details two key changes:

1. Updated ENA Etokenomics: The specific details of this update are not explicitly mentioned in the report. However, this suggests a potential overhaul in the way ENA tokens are distributed and valued.
2. ENA Universal Staking Function: Ethena Labs will introduce a universal staking function for ENA tokens. This function will utilize universal staking pools.

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Cross Chain Staking with Symbiotic and LayerZero

The report goes into detail about ENA's universal staking pool. This will be trialled in collaboration with Symbiotic and LayerZero. This partnership will enable:

• Ethena Token Cross-Chain Transfer: This includes USDe and sUSDe tokens, which are part of the Ethena ecosystem.
• LayerZero DVN Network Verification: Security for this cross-chain transfer will be provided by the LayerZero DVN network. The network is further protected by ENA tokens staked on Symbiotic.

Rewards for Staking ENA

Source: ethena-labs.gitbook.io/ethena-labs

Individuals who stake ENA on Symbiotic are entitled to various rewards. These include:

• 30x points per ENA per day: The exact nature of these points is not mentioned in the report.
• Poin Symbiotic
• Poin Mellow
• Potential future LayerZero RFP allocations (RFP stands for Request for Proposal)

The launch of the ENA staking pool is scheduled for June 26, 2024.

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New Requirements for Locking Airdrops

This update also introduces new requirements for users who receive ENA tokens via airdrop. Starting from June 17, these users must lock at least 50% of their available ENA using a combination of lockup, pendle, and staking functions. 

Failure to do so will result in the reallocation of their unlocked ENA to another user who has met the locking requirements.

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How to Buy Ethena (ENA) on Bittime

You can buy and sell  Ethena (ENA)  in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

Ethena (ENA)  is available on Bittime with  the market pair ENA/IDR . To be able to buy  ENA IDR  at  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Athena (ENA) at Bittime . 

Monitor price chart movements  for Ethena (ENA) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

ENA Continues Down to 35%, Is ENA's Heyday Over?

Ethena: New ENA Token Launched with Huge Controversy and Potential, Learn All about ENA Here

Ethena (ENA) Airdrop Surpasses 33% Claimed: Over 250 Million ENA Tokens In Circulation

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.