Ethena token rallies on buyback plan and revised VC unlock structure

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Ethena's ENA token has surged following two key governance developments aimed at improving its long-term outlook. The protocol is moving to implement a buyback program that would direct revenue generated by the platform toward purchasing ENA tokens. Additionally, Ethena is overhauling its vesting schedule for venture capital investors to reduce the selling pressure that has weighed on the token. Together, these measures are designed to support a revival in growth for Ethena's USDe stablecoin product.

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