ENA is the governance token of the Ethena protocol.
ENA holders govern protocol parameters, including USDe backing, new backing strategies, revenue allocation and the Risk Committee.
“ENA is used to govern parameters of the protocol, including the composition of USDe backing, the introduction of new backing strategies, the future allocation of protocol revenue, and the membership and remit of the Risk Committee.”✓ Quote found word for word in the latest snapshotUnstaking sENA is subject to a cooldown period before ENA can be withdrawn.
“The contract is implemented as an ERC-4626 wrapper, and unstaking is subject to a cooldown period before ENA can be withdrawn.”✓ Quote found word for word in the latest snapshotChanges go through the governance forum, Risk Committee review where relevant, and a vote of ENA holders.
“Ethena governance operates through the Ethena governance forum and on-chain voting, with proposals subject to discussion, Risk Committee review where relevant, and a vote of ENA holders.”✓ Quote found word for word in the latest snapshotEthena lists a multisig as owner of its mainnet contracts, able to modify contract parameters.
“Owner of Ethena's deployed mainnet smart contracts & able to modify contract parameters.”✓ Quote found word for word in the latest snapshot| Tokens in circulation | 15,000,000,000 ENA |
| Contract code can be replaced (proxy) | Not detected by our standard checks |
| Owner | 0xe8dc0fab349ea169283c48ccfd09d797e6db7c94 |
| Owner is | a smart contract (e.g. multisig or timelock) |
| Source | Last checked | Status | Versions | Last changed | SHA-256 |
|---|---|---|---|---|---|
| Product documentation | 24 Oct 2026, 05:17 UTC | Archived | 2 | 24 Oct 2026 | af149385…8d60f9 ⏱ |
| Contract addresses | 24 Oct 2026, 05:17 UTC | Archived | 2 | 24 Oct 2026 | 196462ae…0e5a24 ⏱ |
These questions have no answer in the documents we archive. That is a gap, not a verdict.
Who owes the holderRegulator / licenceGoverning law and disputesRedemption for moneyWho may redeemFeesReserve assetsCustodyAttestation and its scopeFreezing and blockingIssuing new tokens