Ethena Updates ENA Tokenomics with Mandatory Vesting and New Functionality

Bittime - Ethena Labs has announced a significant update to the tokenomics of their native token, ENA. Users who receive ENA via airdrop, such as from the Shard Campaign, must now lock up a minimum of 50% of the tokens they can claim. This locking can be done via three methods: Ethena locking, PT-ENA on Pendle, or Symbiotic Restaking. Non-compliance will result in redistribution of unlocked ENA to compliant users.

The main goal of this update is to transform ENA holders from short-term investors to those who are aligned with the long-term vision of the Ethena ecosystem. This is expected to encourage active participation and long-term commitment from the ENA community. Instructions for the new requirements will be provided on June 23, when users claim their ENA vest each week. The Ethena team emphasizes that no forfeited ENA will be retained by the foundation, team, or investors.

Enhancing ENA Usability with Staking Capabilities

Ethena also introduced staking capabilities for ENA, increasing its usability in the ecosystem. Currently, ENA can be locked in Ethena for future rewards, in Pendle Finance in a PT-ENA pool for a fixed APY, or used in a public restaking pool to secure cross-chain USDe transfers, the protocol's stablecoin.

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This new staking option is part of Ethena's broader strategy to integrate ENA into its financial infrastructure, including the upcoming Ethena Chain. The restaken ENA will provide security for verified cross-chain transfers via LayerZero's DVN network. Additionally, ENA and sUSDe will be the first assets available for deposit in the next epoch of Symbiotic, with the initial liquid staking token (LST) limit already met.

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Ethena Labs Focuses on Financial Applications with USDe as Gas Token

The roadmap shared by Ethena Labs outlines a focus on financial applications that use USDe as a gas token. The restake ENA will secure various applications and may be eligible for future airdrops of this protocol.

ENA's tokenomics update and introduction of new staking capabilities mark an important step in Ethena's development as a powerful decentralized financial ecosystem. With a focus on long-term alignment and improving usability, Ethena aims to position itself as a major player in the rapidly evolving DeFi landscape.

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