The 20% Shadow: How StablecoinX's ENA Hoard Exposes a Governance Fault Line in Ethena's Synthetic Dollar Empire
The assumption is that Ethena's governance token, ENA, is a decentralized...
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|---|---|---|
|
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|
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|
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|
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Greed
Market Sentiment
Independent validator client goes live on mainnet
Block reward halving event
Block reward reduced to 3.125 BTC
Team and early investor shares released
Improves data availability sampling efficiency
Raises validator limit and account abstraction
Circulating supply increases by about 2%
92 million ARB released
Bitcoin Season
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The assumption is that Ethena's governance token, ENA, is a decentralized...