Ethena Foundation Announces Four Major Adjustments to the Ecosystem: Buyback of ENA and Cancellation of Monthly VC Unlocks

BlockBeats News, August 27, according to official sources, the Ethena Foundation has announced four adjustments to the Ethena ecosystem, including the buyback of locked tokens held by early investors, further alignment of token and equity value, the initiation of a governance proposal for revenue-based buybacks of ENA, and the cancellation of future monthly VC investor unlocks. The Ethena Foundation stated that it has completed the acquisition of all locked ENA tokens held by certain key seed-round investors, who had sold ENA over the past nine months. Regarding the alignment of token and equity value, the Ethena Foundation and Ethena Labs have reached a "Master Framework Agreement," which stipulates that intellectual property and value generated by the protocol will be exclusively owned by the foundation and governed by ENA holders, while equity investors in the Labs entity will no longer enjoy residual cash flows. Additionally, the governance proposal for revenue-based buybacks of ENA has been launched. According to the proposal, the net revenue generated by all business lines under the Ethena brand will be used for programmatic buybacks of ENA. This proposal has been approved by the Risk Committee. The Ethena Foundation also stated that it has reached an agreement with major investors to eliminate the selling pressure caused by future monthly VC investor unlocks by releasing unvested tokens. Team tokens will remain locked according to the original vesting schedule. [Original Link]