Today marks an important step forward in more closely aligning the growth and use of $USDe with $ENA
The launch of a generalized staking capability for $ENA with @symbioticfi and @LayerZero_Labs is the first step in adding functional utility for $ENA within the Ethena ecosystem
The launch of a generalized staking capability for $ENA with @symbioticfi and @LayerZero_Labs is the first step in adding functional utility for $ENA within the Ethena ecosystem
Summary:
i) Introduction of generalized restaking modules for $ENA and $sUSDe
ii) $ENA restaking pools within @symbioticfi to secure the Ethena Chain
iii) Immediate 50% reduction of go-forward $ENA inflation for Season 1 campaign participants to support long term alignment
i) Introduction of generalized restaking modules for $ENA and $sUSDe
ii) $ENA restaking pools within @symbioticfi to secure the Ethena Chain
iii) Immediate 50% reduction of go-forward $ENA inflation for Season 1 campaign participants to support long term alignment
At present $ENA can be:
i) Locked in Ethena for 30x rewards
ii) Added to PT-ENA in Pendle for ~75% fixed APR
i) Locked in Ethena for 30x rewards
ii) Added to PT-ENA in Pendle for ~75% fixed APR
The next phase of incorporating $ENA into the Ethena system and adding utility will leverage generalized restaking pools to provide economic security for the Ethena Chain
The first use case is cross-chain transfers of USDe built on the @LayerZero_Labs DVN based messaging system
The first use case is cross-chain transfers of USDe built on the @LayerZero_Labs DVN based messaging system
This is the first of multiple layers of infrastructure and financial applications built upon the Ethena Chain which will utilize and benefit from restaked $ENA modules
mirror.xyz/0x29a99F7Fe080…
mirror.xyz/0x29a99F7Fe080…
Staked $ENA and $sUSDe will be the only newly available assets to deposit in @symbioticfi in the upcoming epoch with the initial LST caps all already filled within hours
Staked $ENA pools will launch on 26th of June
Staked $ENA pools will launch on 26th of June
Staked $ENA in Symbiotic will receive the following rewards:
-Ethena 30x per ENA per day
-Symbiotic points
-Mellow points
-Future potential LayerZero RFP allocations (if allocated to Ethena)
-Ethena 30x per ENA per day
-Symbiotic points
-Mellow points
-Future potential LayerZero RFP allocations (if allocated to Ethena)
The Ethena Chain will host financial applications and infrastructure built upon $USDe as the gas token and fulcrum asset within the system
Restaked $ENA will provide security across these protocols, and in return may be eligible for potential future airdrops at their discretion
Restaked $ENA will provide security across these protocols, and in return may be eligible for potential future airdrops at their discretion
In addition, as of 17th of June, any user receiving $ENA via airdrop for Season 1 will be required to lock a minimum of 50% of the claimable $ENA in one of the three options outlined in the first section
Failing to do so will result in all of the user’s unvested $ENA attributed to the relevant wallet being redistributed to other users who lock $ENA
To be clear: the intent of the above is to incentivize realignment of $ENA holders from mercenary capital to long term aligned users
None of the $ENA which is forfeited will be retained by the foundation, team or investors - it is solely to benefit ecosystem aligned users
None of the $ENA which is forfeited will be retained by the foundation, team or investors - it is solely to benefit ecosystem aligned users
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