DeFi Protocols Ethena and LayerZero Drive Market Activity with Rewards and Buybacks
DeFi Protocols Ethena and LayerZero Drive Market Activity with Rewards and Buybacks
Recent developments in the DeFi sector highlight active engagement from key protocols. Ethena has distributed its Season 4 rewards, ending a month-long wait for users. Simultaneously, LayerZero's ZRO token experienced a significant surge following a $10 million buyback, showcasing a trend of crypto projects returning value to tokenholders.
Ethena Distributes Season 4 Rewards
The synthetic dollar protocol Ethena has completed the distribution of its Season 4 rewards, bringing an end to a waiting period that lasted over a month for users since the season's conclusion in September. This move marks continued activity within the Ethena ecosystem, an important aspect for community engagement and the ongoing development of the protocol.
LayerZero's ZRO Token Surges Post Buyback
In another significant development, the LayerZero omnichain protocol announced a substantial $10 million buyback of its ZRO token. This strategic financial action resulted in a surge for the ZRO token, demonstrating a broader industry trend where crypto projects are actively returning revenue and value to their tokenholders. Such buybacks are often viewed as positive indicators for a token's price action and overall project health.