Ethena Labs Updates ENA Token Economics and Will Pilot Universal Restaking Module with Symbiotic and LayerZero

On June 18th, Ethena Labs announced that they have updated the ENA token economics and will launch a universal staking function for ENA. This will allow users to stake ENA using a universal re-staking pool. The first use case for this will be to provide economic security for cross-chain transfers of USDe using the LayerZero DVN cross-chain messaging system, which is the first layer of the multi-layer infrastructure related to financial applications built on the EthenaChain.

The ENA and sUSDe currently staked will be the first new available assets deposited in Symbiotic, and the initial LST limit will be filled within one hour.

Ethena will work with Symbiotic and LayerZero to test the universal re-staking framework, ensuring that Ethena (including USDe and sUSDe) cross-chain transfers are verified through the LayerZero DVN network, which is protected by the ENA staked in Symbiotic. ENA staked in Symbiotic will receive daily rewards of 30 times the points per ENA, Symbiotic points, Mellow points, and potential future LayerZero RFP allocations. The ENA pool will launch on June 26th.