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project

HyENA

USDe-margined perpetuals venue launched as a HIP-3 market on Hyperliquid.

Current clusters

invest3 publishers

Ethena buys back locked tokens from the seed investors who sold after October's peak

The Foundation screened for holders above 0.25% of supply who had sold after 10 October 2025, bought their unvested tokens over the counter, and set 5 October 2026 as the date the unlock calendar stops. Non-sellers were offered their cost back and refused.

Perspective Coverage

3 publishers
Builder
Builder 25%
Operator
Operator 23%
Investor
Investor 52%

Reality

Evidence62
Adoption42
Hype gap+27
Incentives78
Confidence61