A portion of protocol charges is ready to be redirected to ENA holders.
The Ethena Basis, a nonprofit that contributes to Ethena governance, confirmed right now that the activation of the artificial greenback protocol’s payment swap is ready to be proposed to governance.
The payment swap, first proposed by Wintermute in November, would redirect a portion of protocol charges to ENA holders now that the Danger Committees’s success metrics have been fulfilled.
These metrics, outlined in November, known as for a circulating USDe provide of better than $6 billion, cumulative protocol income of better than $250 million, and USDe’s integration on 4 of the highest 5 centralized exchanges ranked by derivatives quantity.
USDe boasts a market capitalization of virtually $14 billion right now, up greater than 150% over the past two months, making it the third largest stablecoin behind USDC and USDT.
Ethena’s ENA token can be in an uptrend. ENA is up 226% over the past 12 months, and is altering fingers at $0.70.
Nonetheless, whereas the ENA token is buying and selling properly beneath its all-time excessive of $1.52, its market capitalization reached a brand new all-time excessive of $5.6 billion final week. The distinction between market capitalization and worth efficiency is because of token unlocks.
