Ethena governance ends USDe airdrop rewards and shifts to fee-capture model
CIE News ·
Ethena governance has ended USDe rewards and point farming, moving protocol economics to a fee-capture model that reserves up to 95% of net revenues for ENA token buybacks.
Ethena governance has finalized modifications to protocol emissions, officially closing the rewards campaign and permanently ending USDe point farming. Future protocol economics are transitioning to a fee-capture framework, where up to 95% of net revenues will be allocated to buybacks of the Ethena (ENA) token once specific USDe supply targets are achieved. Meanwhile, airdropalert.com reported on September 28 that the final airdrop period concluded on September 30, with 1.41 billion ENA scheduled to unlock on October 5.