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![ImperiumPaper Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1412230982795673607.png) PaperImperium [@ImperiumPaper](/creator/twitter/ImperiumPaper) on x 7237 followers
Created: 2025-07-22 18:21:30 UTC

@eli5_defi @ethena_labs It’s net dilutive. The $260m is from selling Foundation tokens at XX% discount


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947723695729815569/c:line.svg)

**Related Topics**
[ena](/topic/ena)
[discount](/topic/discount)
[$260m](/topic/$260m)
[ethenalabs](/topic/ethenalabs)

[Post Link](https://x.com/ImperiumPaper/status/1947723695729815569)