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Over $500 million in ENA was just distributed to eligible claimants through Ethena’s first round of airdrops, but contention over the protocol is reaching a fever pitch on Crypto Twitter. Why are two bluechip DeFi protocols now embroiled in conflict over Ethena?
Yesterday afternoon, a governance proposal hit the Maker forum asking delegates to consider increasing the capacity of recently established USDe and sUSDe lending facilities on Morpho from 100 million DAI to 600 million DAI, with the ability to extend the line to up to 1 billion DAI and the majority of funds set to be lent out at relatively high loan-to-value (LTV) ratios of 86% and greater.
Scaling up the Morpho Vault. pic.twitter.com/LmJsfwPXZa
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