ChainThink reports that on August 27, according to an official announcement, the Ethena Foundation unveiled four adjustments to the Ethena ecosystem: repurchasing locked tokens held by early investors, aligning token value with equity value, initiating a governance proposal to use revenue for ENA buybacks, and eliminating monthly vesting for future VC investors.
The Ethena Foundation has completed the acquisition of all locked ENA tokens from certain key seed-round investors who sold ENA over the past nine months.
Meanwhile, the Foundation has entered into a Master Framework Agreement with Ethena Labs, stipulating that all intellectual property and value generated under the agreement shall belong exclusively to the Foundation and be governed by ENA holders, with Labs’ equity investors no longer entitled to residual cash flows.
The governance proposal to use income for ENA buybacks has been approved by the Risk Committee. Under the proposal, net income generated from all of Ethena’s business lines will be used to programmatically buy back ENA.
In addition, the foundation has reached an agreement with major investors to eliminate future selling pressure from monthly VC vesting by releasing unvested tokens. Team tokens remain locked according to the original vesting schedule.