Governance token concentration (Gini)
Ethena's assessment for RD-F-047 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
ENA token allocation: Core Contributors 30%, Investors significant %, Foundation, Ecosystem/Airdrops 30%. Gini coefficient not directly measured. Governance is non-binding Snapshot signal — concentration in ENA voting does not directly translate to protocol execution authority (multisig holds actual power). Risk Committee elections bi-annual.
Sources #
- URLEthena Risk Committee Elections Fourth Term Resultshttps://gov.ethenafoundation.com/t/ethena-risk-committee-elections-fourth-term-results/750retrieved 2026-04-28
- ENA Tokenomics — allocation breakdown by categoryhttps://docs.ethena.fi/ena/tokenomicsretrieved 2026-04-28
Methodology #
Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol ethena factor RD-F-047 score yellow collected_at 2026-04-28 13:58:51