Ethena has recently updated the claim conditions for the second phase of its ENA airdrop, introducing several significant changes that may impact both token holders and the broader market. First, the original requirement that 50% of the airdropped ENA tokens must be re-staked has been canceled, allowing participants to withdraw all their airdropped tokens without restriction. This adjustment could lead to increased selling pressure on the claim day, as recipients now have the flexibility to liquidate their holdings immediately. Second, a new condition ties the airdrop amount to the user’s USDe balance. To receive the full airdrop, participants must maintain
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