Ethena (ENA) Unlocks — Nov 2 & Nov 5, 2026

This page tracks the next dated ENA unlocks on the desk's calendar. Unlock Watch Edition 001 covers these events; the edition publishes against the dates, with every figure re-verified before it lands.

Unlock Watch is economic triage from public data — not a smart-contract security audit, not financial advice, no price predictions. An unlock is a supply fact, not a forecast.

The events

There is no ENA cliff on Nov 1, 2026. Per the Ethena Foundation's Aug 27, 2026 update, all remaining investor unlocks were accelerated into a single release on Oct 5, 2026 — no investor tokens remain locked. What remains on the original monthly schedule, running to March 2028, is 40,625,000 ENA to the Foundation on Nov 2 and 93,750,000 ENA to Core Contributors on Nov 5: 134,375,000 ENA across two ordinary monthly tranches, no cliff.

Ethena (ENA) — Foundation tranche — Nov 2, 2026

40,625,000 ENA to the Ethena Foundation.

Sourcing, labeled honestly: aggregator-grade, secondary-corroborated. Ethena's published documentation states no vesting terms for the Foundation allocation, so this date and amount rest on Tokenomist's structured unlock schedule, corroborated by reporting of the original schedule (Odaily and Coinlook both carry the Foundation tranche at about 40.625M ENA per month, released on the 2nd). It is presented as the schedule, not as an Ethena announcement.

Ethena (ENA) — Core Contributors tranche — Nov 5, 2026

93,750,000 ENA to Core Contributors.

Sourcing: derived from Ethena's own published vesting terms (docs.ethena.fi). Core Contributors hold 30% of the 15,000,000,000 ENA supply — 4,500,000,000 ENA — locked on a 1-year 25% cliff with the remaining 75% vesting linearly, monthly, over 3 years from TGE (March 5, 2024): 3,375,000,000 over 36 monthly payments is 93,750,000 ENA per month, released on the 5th. The Ethena Foundation's Aug 27, 2026 update confirms team tokens remain on their original lockup and vesting schedules.

Investor unlocks — finished Oct 5, 2026

Per the Ethena Foundation's Ecosystem Update of Aug 27, 2026, effective Oct 5, 2026 all remaining original investor unlocks were accelerated into a single release, and no investor tokens are subject to lockup anymore. The monthly investor tranche (about 78,125,000 ENA, on the same docs vesting terms) no longer exists. Sources: Ethena Foundation, "Ethena Ecosystem Update," Aug 27, 2026 (mirrored on Binance Square; corroborated by the Foundation's July–September 2026 governance update at gov.ethenafoundation.com); vesting terms at docs.ethena.fi. One tracker note: a page showing "no upcoming ENA unlocks" is working from a schedule dataset supplied in May 2024, before this restructuring — the recurring monthly team and Foundation tranches above are the live schedule.

What the unlock means

An unlock moves previously locked tokens into circulating supply. What matters is the size against circulating supply and market depth, who receives the release, and what locked overhang remains behind it. For Ethena the schedule itself recently changed shape: on Oct 5, 2026, the remaining investor allocations were released in a single tranche, collapsing a vesting stream of roughly 78M ENA per month that had been scheduled to run through Mar 2028 (Ethena Foundation, Aug 27, 2026). November's two tranches land in that post-collapse schedule as ordinary monthly vesting — the overhang event already happened, on Oct 5 — which is exactly why the desk resolves every figure from Ethena's own disclosures and labels the sourcing of each one instead of carrying a calendar figure forward.

The desk has not published a full audit of Ethena. Edition 001 grades the events against Ethena's supply, holder concentration and overhang as they land; the desk's nine published sample audits show the full method: audit portfolio.

Get yours