Ethena Accused of 'Black Box': Stealing Mining with Locked Tokens, Ignoring Doubts
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:汇率)
- ·发行可转换公司债券分录怎么做
- ·华电能源收盘涨3.0%,主力资金净流入2089.1万元
- ·兵器工业股票-兵器工业股票代码
- ·中远海控(01919)10月31日斥资3613.26万港元回购310.9万股
- ·烂嘴角吃什么缺什么
- ·社保缴费基数是5000元,这代表啥意思呢?
- ·什么股票赚钱最快-什么股票赚钱最快最好
- ·依顿电子收盘涨1.03%,主力资金净流出3037.02万元
- ·股票业绩排行
- ·10月31日申万菱信双利混合C净值增长0.33%,近3个月累计上涨5.16%
- ·Elden Ring 粉丝期待真人版电影
- ·万达有哪些贷款情况?最新贷款信息解析!
- ·微软记事本新增生成式AI写作辅助功能,Windows 11迎来多项AI工具更新
- ·地塞米松概念31日主力净流出5879.76万元,吉林敖东、金种子酒居前
- ·为什么天气为什么下雨
- ·幼儿园孩子骨折后,法律上的起诉期限是多久?
- · okb交易所官网
- · okx交易所app官网
- · 0kx交易所官网
- · okx交易所app官网链接
- · 虚拟货币交易
- · okx网页版
- · 虚拟货币交易平台排名
- · ok币
- · okcoin交易平台
- · 数字货币交易平台app