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:金店)
- ·如何做表格,从入门到精通的完整指南_如何做表格
- ·房车股票
- ·大学挂科?后果比你想象的严重!大学挂科有什么影响
- ·全球知名排名前八的炒币交易所 比特币交易所排行榜
- ·2025年十大钱包APP排行榜介绍
- ·牛市怎么提币
- ·美人鱼在哪里拍摄的
- ·河北11市全知道!河北省有多少个市
- ·10加仑换算成升是多少?10加仑等于多少升
- ·朵朵币交易平台
- ·全球最大的交易平台_数字货币交易所排名 2025
- ·加密货币APP 加密货币APP汉化版v3.5.8
- ·涨得最多的数字货币前10名 数字货币涨幅最高排行
- ·ETH挖矿软件启动不了-eth挖矿出错
- ·1平方公顷到底多大?1平方公顷等于多少平方米
- ·上市公司是啥?一篇文章讲明白!上市公司是什么意思
- · 欧易app官方下载入口
- · 欧易交易所 电脑
- · oe交易所app下载
- · 欧亿app官网正式版下载
- · 十大虚拟货币交易平台app
- · 虚拟货币交易平台排名
- · 易欧app官网下载
- · 0kx交易所官网
- · 亿欧app下载
- · okcoin交易平台