Ethena Labs Confirms No Locked Tokens Earning Ethereal Rewards

• Ethena Labs confirmed no locked team or investor tokens are staked as sENA earns rewards like Ethereal.
• Ethena Labs will update the UI to clarify total sENA eligible for future airdrops, excluding Liquifi-held tokens.

In a tweet, Ethena Labs has responded to community concerns over allegations that the Ethena team or its investors were reaping benefits through sENA’s locked token program. These issues, which have been floating about Discord and X, mostly focused on whether any locked team or investor tokens were staked to gain Ethereal incentives.

Ethena Labs stated in a clear, unequivocal manner that no locked tokens—from team members or investors—are staked as sENA to win prizes, including Ethereal. The team further stated that a Discord session last week confirmed this publicly and that a screenshot served as evidence.

We are aware of questions circulating in Discord and X as to whether investors or the Ethena team are earning Ethereal rewards via sENA using locked tokens.

We would like to categorically confirm to our community that absolutely no locked team or investor tokens are staked as… pic.twitter.com/v5SxgDwCTp

— Ethena Labs (@ethena_labs) October 28, 2024

Ethena Labs Confirms Transparency on Unlocked Tokens and Upcoming UI Update

Ethena Labs stressed that any ENA tokens delivered from the relevant wallets were unlocked using the vesting schedule described in their original token distribution blog post. Currently under investigation are wallets with unlocked foundation tokens, which satisfy stake eligibility requirements.

The foundation has nonetheless verified that the Ethereal program would not award any airdrobes or related bonuses to these coins.

Ethena Labs also aims to make its consumers’ clarity better. This week a new part will be included in the user interface (UI) of the platform to show openness on the overall sENA qualified for next airdrops.

This upgrade will clarify the matter by excluding undistributed sENA presently trapped in Liquifi contracts, therefore assuring consumers have a better knowledge of the circumstances.

Previously, CNF reported that Wintermute now accepts USDe, a stablecoin by Ethena Labs, as margin collateral for over-the-counter (OTC) trading. This breakthrough is considered a major step toward traders’ increasing capital flexibility.

To ensure better scalability for the stablecoin as it develops, Ethena Labs has also suggested including Solana and liquid staking variants to diversify the assets supporting USDe.

Meanwhile, Ethena’s native coin, ENA, has made headlines with its outstanding performance. As of writing, ENA is trading at about $0.3876, jumped 11.36% over the last 24 hours. Having a market cap of more than $1 billion, ENA has ranked among the top five gainers of the day.