Ethena approves ENA buyback with 95% of revenue; Hayes buys 25.33M tokens
- —Ethena will direct 95% of net revenue to ENA buybacks and holder payouts
- —Hayes bought 25.33 million ENA for $5.53 million at an average price of $0.09
- —Hayes' unrealized profit is $3.28 million, or 146%
- —Ethena's TVL reached $5.21 billion
Why it matters: Tying protocol revenue to token buybacks creates steady demand for ENA, but the size of purchases depends on Ethena's income.
Source: Blockonomi
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