- Long-term ecosystem growth is intended to be secured by the new $ENA locking policy.
It has been made public that Ethena Labs’ native token, ENA, has undergone a significant modification in tokenomics. It is now required that at least half of the claimable tokens users receive from airdrops—like those from the Shard Campaign—be loc
ked. There are three ways to finish the lock-in: Ethena locking, PT-ENA on Pendle, or Symbiotic Restaking. In the event of non-compliance, unvested ENA will be transferred to users who comply.
The release makes clear that the update’s goal is to move ENA holders from investors with a short-term focus to those who share the ecosystem’s long-term goals. Notably, when customers claim their weekly ENA vest on June 23rd, instructions for the new requirements will be given.
The Ethena team makes it clear that neither the foundation nor the investors will keep any of the forfeited ENA.
Ethena is also giving ENA the ability to stake, which will increase its usefulness in the ecosystem. At the moment, ENA can be used in generalized restaking pools to secure cross-chain transfers of USDe, the protocol’s stablecoin, or locked within Ethena for future rewards.
For a fixed APY, it can also be used in Pendle Finance’s PT-ENA pools.
The new staking options are a part of Ethena’s larger plan to incorporate $ENA into its forthcoming Ethena Chain and other financial infrastructure.
The restaked ENA will provide security for cross-chain transfers verified by LayerZero’s DVN network. Furthermore, the first assets that can be deposited in Symbiotic’s upcoming epoch will be ENA and sUSDe, given the first caps on liquid staking tokens (LST) have already been reached.
Moreover, Ethena Labs’ goal has a focus on financial applications with USDe serving as the gas token. Through these procedures, Restaked ENA will secure a variety of uses and might be qualified for airdrops in the future.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
