Ethena

Total value locked, currently 4,529,668,586.80, is central to Ethena's model because the size of the collateral pool directly affects the protocol's capacity to issue USDe and generate fees, so the seven-day change of -0.92% is worth monitoring for continuation or reversal. The take rate of 0.19% over the trailing 30 days shows how the protocol balances rewarding users versus retaining revenue, and shifts in that figure would reflect a deliberate governance or market-driven change in incentive structure. Supply pending — the 52.62% of maximum supply not yet in circulation — represents a meaningful dilution overhang, and the pace at which that supply enters circulation would affect the relationship between the circulating and fully diluted figures. Fee and revenue growth over 30 days is recorded at 1,370.59%, a figure that reflects the volatile, activity-dependent nature of the underlying yield strategy and bears watching as a sign of whether recent activity levels are sustained.

由 AI 语言模型根据以下所列数据撰写，于 27 Aug 2026 04:45 UTC.