Ethena Labs faces scrutiny after allegations of unfairly staking 180 million ENA tokens in its crypto farming event.
Ethereum-based synthetic dollar protocol Ethena Labs has been accused of participating in one of its newly hosted crypto-farming events using 180 million Ethena tokens.
On Oct. 27, crypto investigator Nomad alleged that the Ethena team owns 25% of the total staked ENA (SENA) in its Season 3 farming event, which is actively used for farming Sats, which are rewarded to users for participating in various actions in the Ethena ecosystem.
While questioning the team’s ethics, Nomad warned that the move would significantly dilute the rewards of legitimate participants, specifically Ethens (ENA)/Ethena USDe (USDE) holders.
