StablecoinX ENA Lock Waiver
Ethena (ENA) · Token Unlocks · October 5, 2026
Ethena Foundation permanently waives the 48-month lock and all vesting on StablecoinX's ENA, effective Oct 5 — a fresh supply overhang.
Ethena Foundation and Ethena OpCo agreed to permanently remove lock-up restrictions on the ENA held by StablecoinX, a Nasdaq-listed ENA treasury vehicle, effective October 5, 2026.
- Waiver eliminates a 48-month contractual lock plus all vesting and unlocking restrictions - Aligns StablecoinX with the Foundation's general release timeline for ENA holders - Foundation retains a right of first refusal: it can buy the tokens at the proposed price within five business days before any market sale - Creates a potential supply overhang market participants are monitoring
Ethena is the issuer of the USDe synthetic dollar; ENA is its governance token.