Ethena

Ethena follows a vesting schedule with allocations to the Core Contributors, Ecosystem Development, Investors, Foundation and Binance Launchpool. Most allocations are released through a cliff mechanism. The full unlock schedule extends into 2028.

The next unlock for Ethena is scheduled for December 2, 2026, released to Foundation.

As of today, approximately 10,785,937,500 Ethena has been unlocked, which is 71.91% of Ethena’s total supply. Float is 71.91% of max supply (excluding burned tokens). The remaining tokens are still locked and will be released according to the vesting schedule.

Ethena uses cliff vesting, especially for Core Contributors allocations. This means tokens are released all at once after a set waiting period, creating a delayed but significant supply event.

The circulating supply of Ethena is 13,500,000,000 tokens, the total supply is 15,000,000,000 tokens, and the max supply is 15,000,000,000 tokens. The total supply is all tokens that have been or will be created, including those that are still locked. The max supply is the max amount of tokens to ever be in circulation. Since no Ethena tokens have been burned, the max supply is equal to the total supply.

Ethena’s FDV is $2,239,140,000 which reflects the market value if all 15,000,000,000 tokens were unlocked. This figure helps estimate long-term dilution risks.

The Ethena allocation includes Ecosystem Development at 28.00%, Investors at 25.00%, Foundation at 15.00%, Binance Launchpool at 2.00% and Core Contributors at 30.00%.

Historically, Ethena has shown low volatility 7 days after the past unlock. The price impact depends on who receives the unlocked tokens and market conditions.

Tokenomist provides an up-to-date vesting chart and unlocks monitor that shows upcoming unlocks for Ethena, with visibility for each allocation and amount.