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![SherifDefi Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1611011814.png) Sherif | DeFi [@SherifDefi](/creator/twitter/SherifDefi) on x 87.5K followers
Created: 2025-07-22 12:59:44 UTC

4\ 
💭 The Structure

StablecoinX is a public treasury vehicle. It doesn’t “manage” $ENA, it absorbs it.

→ The Foundation has veto power over any sales
→ There’s no redemption mechanism
→ No rotation nor exit

This is engineered illiquidity for the benefit of ENA holders.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947642717758005286/c:line.svg)

**Related Topics**
[holders](/topic/holders)
[ena](/topic/ena)
[$ena](/topic/$ena)
[coins defi](/topic/coins-defi)

[Post Link](https://x.com/SherifDefi/status/1947642717758005286)