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![ImperiumPaper Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1412230982795673607.png) PaperImperium [@ImperiumPaper](/creator/twitter/ImperiumPaper) on x 7214 followers
Created: 2025-07-21 15:05:44 UTC

Important aspect I forgot: This is beginning life as unlevered and controlled by Ethena. If they avoid leverage they could burn the keys and never have to sell this bag, regardless of how bad price action gets.

If price moons, dilute and buy more ENA. If price is rekt, ignore


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947312041380745692/c:line.svg)

**Related Topics**
[ena](/topic/ena)

[Post Link](https://x.com/ImperiumPaper/status/1947312041380745692)