Recently, netizen Nomad revealed on social media that the Ethena team, a decentralized financial protocol, used 180 million ENA tokens, equivalent to 25% of the SENA supply, in the SENA third quarter points airdrop event. This operation diluted the profits of other participants and raised serious concerns among holders about the team's ethics and transparency.

Suspicious flow of team managed tokens

According to public evidence compiled by Nomad, Coinbase announced on August 22 that its Prime service would become the primary custodian for Ethena Labs and the Foundation's ENA token. Just one day later, the Coinbase Prime custody address received over 3 billion ENA tokens, far exceeding the circulation at the time, so it can be reasonably speculated that these tokens may be locked in tokens of the Ethena team and foundation.

With the launch of SENA staking on October 3rd, Coinbase Prime distributed 180 million ENA tokens to six wallets and quickly began mining. The distribution operation is as follows:

On the first day, two transactions were made (30 million and 35 million ENAs), followed by four more transfers in the following days. These tokens will not only earn Bitcoin profits, but also receive Ethereal Points expected to be launched by Ethena's collaboration DEX in 2024. Currently, the team's SENA has accumulated 20% of the total reward.

The team ignored the doubts of the holders and received widespread criticism for their past misdeeds

Nomad accuses that this is not the first time Ethena's team's behavior has caused dissatisfaction among holders. In Ethena's first community call, questioning the community issues surrounding these suspicious addresses received the most votes, but the team completely avoided discussing it. In addition, the Ethena team's "bad record" in arbitrarily modifying unlocking rules has greatly reduced the trust of the holders. For example, in the S1 mining activity, the Ethena team once requested holders to pledge 50% of the unlocked tokens when the unlocking process was halfway through; S2 participants are facing a blow from the temporary implementation of the 30 day average position rule, almost incurring huge losses.

Ethena's' Black Box '

As a CeDeFi project, Ethena's operating model is described as a 'black box', where users can only rely on data provided by the team and have no way of knowing the true revenue data obtained by the project from $2.6 billion in user funds. The outside world is uncertain whether the agreement will distribute all profits to SUSDe holders. For a protocol running in CeDeFi mode, trust should be the key cornerstone, but the Ethena team's approach has gradually caused holders to lose confidence.

(责任编辑：商业)

• ·公积金贷款的额度是多少？我想贷住房公积金，他的额度是多少呢？
• ·或有事项分为哪几类？
• ·公司内部资金调拨怎么做会计分录
• ·AI语料概念31日主力净流出2.66亿元，同方股份、昆仑万维居前
• ·火币网充值
• ·华天酒店收盘涨3.26%，主力资金净流入2123.31万元
• ·莱特币行情美元-莱特币行情美元走势
• ·豫光金铅收盘跌0.57%，主力资金净流出2693.9万元
• ·Vitalik 放狠话：年底前未达标的 Layer 2，将不再被视为二层网络
• ·沪企改革概念31日主力净流出5.01亿元，上海电气、上工申贝居前
• ·火币怎么充值
• ·10月31日浦银安盛科技创新优选混合净值增长1.32%，近6个月累计上涨32.52%
• ·资金回正是什么意思
• ·四川宜宾：丝丽雅5万吨莱赛尔项目投产
• ·为什么比特币是有限的 为什么比特币是有限的呢
• ·苹果下载meme币教程 meme币最新版下载链接打不开