Ethena (ENA) announced a significant update to its tokenomics. The update introduces new conditions for users who purchase ENA altcoin via airdrop, effective June 17.
According to the cryptocurrency project's official blog post, users who receive ENA from the portion subject to the qualifying conditions of the Shard Campaign airdrop, for example, will now be required to lock in at least 50% of the claimable ENA from the distribution received. The lock can be placed in one of the three options outlined in the first part of the blog post.
According to the statement, failure to comply with these new requirements will result in the redistribution of all of the user's unearned ENA allocated to the relevant wallet. The redistribution will be among other users who have locked ENA on i) Ethena locking service, ii) PT-ENA on Pendle (on any chain) or iii) Symbiotic Restaking.
According to the statement, as additional use cases for ENA are offered in the ecosystem, options for locking $ENA for this purpose may expand.
According to ENA developers, tokens taken from users who do not comply with the above will only be redistributed to users:
“None of the ENA lost as a result of not meeting the above conditions will be received by the foundation, team or investors, but will only benefit users compatible with the ecosystem.”
*This is not investment advice.
