PANews, August 27: The Ethena Foundation announced four adjustments to the Ethena ecosystem, including repurchasing locked tokens held by early investors, further aligning token and equity value, initiating a governance proposal for income-backed ENA buybacks, and eliminating future monthly VC unlocks. The Ethena Foundation has repurchased all locked tokens from key seed investors who sold ENA tokens over the past nine months. Regarding token and equity value alignment, the Ethena Foundation and Ethena Labs have entered into a Master Framework Agreement, which stipulates that all intellectual property and value generated under the agreement will be exclusively owned by the Foundation and governed by ENA holders, with Labs’ equity investors no longer entitled to residual cash flows.
Ethena Foundation Announces Four Major Ecological Adjustments
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Summary
The Ethena Foundation has announced four key initiatives to accelerate ecosystem growth, including a token repurchase proposal and the cancellation of future monthly VC unlocks. The foundation has already repurchased all locked tokens from major seed investors who sold ENA over the past nine months. A new Master Framework Agreement with Ethena Labs ensures that protocol intellectual property and value are retained by the foundation and ENA holders, eliminating residual cash flows to Labs equity investors. This on-chain development signals a significant shift in governance and ownership structure.
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