Ethena Labs Boosts Rewards 50% for ENA Lockups, Spurring Token Price Surge

• Ethena Labs increasing rewards for users who lock up ENA tokens by 50% as part of "season 2" initiative

• Boost sparked 14% surge in price of ENA token to current $1.306

• Rewards apply to users locking 50% or more of ENA relative to holdings of Ethena's USDe stablecoin

• Ethena introduced Bitcoin cash and carry trade strategy to generate annual yield

• Frax Finance allocated $250 million of Ethena's USDe to a new liquidity pool on Curve