In a July 24 announcement, EthenaLabs revealed that the BlackRock BUIDL Issuer Securitize and Steakhouse Financial have submitted an application to the Ethena Governance Council, requesting an allocation from the Ethena Reserve Fund. The Ethena Reserve Fund has a total amount of $45 million, designed to provide funding support for promising asset issuers. Asset issuers have the opportunity to present their RWA or allocation plan for rewards assets to Ethena. Once the committee reviews and approves, eligible asset issuers will have the opportunity to receive an allocation from the Ethena Reserve Fund to further develop their projects.