According to CoinMeta, the Ethena ( ENA-USDT ) Foundation announced a comprehensive token economy reform, acquiring the locked ENA holdings of major early investors who have been selling tokens since the end of 2025, thereby eliminating the monthly pressure of venture capital unlocks. In addition, Ethena proposed to use 95% of net protocol revenue for automatic repurchases after the USDE supply exceeds $7.5 billion, and this plan has received nearly unanimous support from the community in the ongoing voting. At the same time, Ethena also obtained $1 billion in treasury financing to diversify the support for USDE into institutional credit and to include ENA in its benchmarks.