Ethena just announced what everyone was waiting for. The protocol is ready to activate the fee switch. 9-figure gross annual revenue will be distributed to $ENA stakers. Here's a model projecting APR in bear, base, and bull cases. (Zoom into the image for all the calculations) 🧭 CONTEXT Ethena just wrapped up what, in my opinion, is the most triumphant period in the company's history. In case you missed it, here's a quick recap: 1. USDe listed on Binance I put together some projections a while back on how CEX integrations impact USDe's supply. Worth checking out: 2. Stablecoin-as-a-Service (SaaS) Product Launch This was launched through a collaboration with MegaETH, which will integrate "USDm" across its entire ecosystem. DeFi composability at its finest: 3. HyENA expansion @BasedOneX, directly backed by @ethena_labs, has quickly become one of the largest apps on Hyperliquid. Furthermore, Ethena’s team is now working on launching new products like perpetual swaps on...
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