Ethena Labs updates ENA token economics, will pilot a universal re-pledging module with Symbiotic and LayerZero

Ethena Labs announced that it has updated the ENA token economics and will launch a universal staking feature for ENA, using a general re-staking pool to stake ENA. Its first use case is to provide economic security for cross-chain transfers of USDe based on the LayerZero DVN cross-chain messaging system. This is the first layer in the multi-layer infrastructure related to EthenaChain and financial applications built on this chain that are about to be launched. The currently staked ENA and sUSDe will become the first batch of new available assets deposited in Symbiotic, with all initial LST caps filled within an hour. Ethena will trial a universal re-staking framework with Symbiotic and LayerZero, ensuring Ethena's cross-chain transfers (including USDe, sUSDe) which are verified through the LayerZero DVN network protected by ENAs staked inside Symbiotic. The daily reward for each staked ENA in Symbiotic will be 30 times per ENA points rewards, plus Symbiotic points, Mellow points and potential future allocations from LayerZero RFPs. The ENA pool will go live on June 26th.