Ethena Labs Updates Tokenomics for Its Native Asset ENA to Increase the Token's Utility
Synthetic dollar protocol developer Ethena Labs is updating the tokenomics for its native asset, ENA, in a bid to increase the token's utility.
Synthetic dollar protocol developer Ethena Labs is updating the tokenomics for its native asset, ENA, with the aim of boosting the token’s utility.
Ethena is geared towards providing a crypto-native solution for money that is not reliant on the traditional banking system infrastructure with a synthetic dollar called USDe. The protocol also offers a dollar-denominated savings instrument called “the Internet Bond.”
Currently, the ENA token can be locked within Ethena to boost potential future rewards or locked in Pendle, a decentralized finance (DeFi) protocol that allows users to tokenize and sell future yields.
In the next phase for the ENA token, Ethena Labs says it aims to leverage generalized restaking pools for staked ENA.
“The first use case is to provide economic security for cross-chain transfers of USDe relying on the LayerZero DVN based messaging system. This is the first of multiple layers of infrastructure related to the upcoming Ethena Chain and financial applications built upon the chain which will utilize and benefit from restaked ENA modules,” the project said in a statement.
The project also notes that any user receiving ENA via an airdrop going forward will be required to lock a minimum of 50% of the claimable tokens from the distribution in either Ethena, Pendle or generalized restaking pools for staked ENA.
Earlier this year, Ethena raised $14 million in a seed extension round. The funding round saw participation from BitMEX founder Arthur Hayes, investment giant Franklin Templeton, digital asset manager Galaxy Digital and Binance Labs, among others.
ENA is trading at $0.653 at the time of writing.
News source:https://www.kdj.com/cryptocurrencies-news/articles/ethena-labs-updates-tokenomics-native-asset-ena-increase-token-utility.html
The above is the detailed content of Ethena Labs Updates Tokenomics for Its Native Asset ENA to Increase the Token's Utility. For more information, please follow other related articles on the PHP Chinese website!

The decision was made in part because a “path to profitability” was unrealistic, Gitcoin co-founder Kevin Owocki said in a statement.

The XRP price has stabilized at $2.13, with a 24-hour trading volume of $2.33 billion. However, its momentum has slowed, leaving investors seeking the next top crypto pick.

Investor and CEO Cathie Wood's ARK Invest firm projects that Bitcoin could reach $1.5 million per coin by 2030

"For cryptocurrencies, market liquidity, even if it may seem ok at times, is especially during crises naturally called into question"

As the US President Donald Trump announced a 90-day delay for the tariffs on cryptocurrency imports, speculators and investors began to outline potential risks to the broader cryptocurrency market.

This Olympics-themed coin is highly sought after by collectors if it features a specific design.

This coin is highly prized by collectors if it features a specific design.

This Olympics-themed coin is highly sought after by collectors if it features a specific design.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

WebStorm Mac version
Useful JavaScript development tools

mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function

DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

SublimeText3 English version
Recommended: Win version, supports code prompts!
