On June 18, Ethena Labs announced that it has updated the economics of ENA tokens and will launch the ENA universal staking function, leveraging a common re-staking pool to pledge ENA. Its first use case is to rely on the LayerZero DVN cross-chain messaging system to provide economic security for USDe's cross-chain transfer. This is the first layer in the upcoming EthenaChain multi-layer infrastructure related to financial applications built on the chain.
The currently staked ENA and sUSDe will be the first newly available assets deposited in Symbiotic, and the initial LST cap will be fully filled within one hour.
Ethena will pilot a universal re-staking framework with Symbiotic and LayerZero to ensure Ethena's cross-chain transfer (including USDe, sUSDe) is validated through the LayerZero DVN network, which provides protection through ENAs staked within Symbiotic. ENAs staked in Symbiotic will receive a daily reward of 30x points per ENA, Symbiotic points, Mellow points and a potential LayerZero RFP allocation in the future. The ENA pool will go live on June 26th.
Ethena Labs Updates ENA Token Economics, Trials Universal Re-staking Module with Symbiotic and LayerZero
2024-06-18 00:55:13
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