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Topic

DeFi governance

The voting processes, onchain and off, by which token holders decide protocol parameters, fee settings and treasury use.

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