ChainCatcher report: According to the official announcement from the Ethena Foundation, the fee conversion vote has been approved with 100% in favor. Programmatic ENA buybacks will commence and gradually scale up as key metrics and milestones are achieved. Previously, on August 27, the Ethena Foundation announced four adjustments to the Ethena ecosystem, including repurchasing locked tokens held by early investors, further aligning token and equity value, initiating a governance proposal to use revenue for ENA buybacks, and eliminating future monthly VC investor unlocks.
Ethena Fee Conversion Vote Passes with 100% Approval; Programmatic ENA Buybacks Commence
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Summary
The Ethena Foundation confirmed that the fee conversion vote passed with 100% approval, triggering programmatic ENA buybacks. The initiative supports ecosystem growth and is designed to scale as key metrics are achieved. On August 27, the foundation outlined four ecosystem adjustments, including repurchasing tokens from early investors, aligning token and equity value, proposing revenue-based buybacks, and halting future VC unlocks. The on-chain update underscores ongoing efforts to strengthen the Ethena ecosystem.
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