The issuer of the $4 billion USDe token said it expects real-world asset perpetuals to eclipse crypto derivatives in its backing within 12 to 24 months.

Ethena Foundation buys out early investors, eliminates future VC token unlocks, and approves revenue buybacks in a sweeping governance

The changes aim to cut investor selling pressure and channel protocol revenue to ENA as Ethena looks to revive USDe growth.