Save money and increase revenue! Starting in October, significant changes have occurred on both the supply and revenue sides of $ENA. Ethena @ethena’s recent mechanism adjustments are noteworthy for addressing both investor vesting releases and token value recycling simultaneously. 👉 Supply side: End of monthly unlocks for original investors The remaining investor tokens previously scheduled for monthly releases will now be unlocked all at once on October 5, 2026. Additionally, the foundation has repurchased unvested tokens from early major investors who had previously sold ENA, via OTC transactions. 👉 Revenue side: Protocol business growth drives value back to ENA The ENA Fee Switch has been approved via governance. The first triggering threshold is a 14-day average supply of USDe reaching $7.5 billion. Once met, 95% of the net revenue paid to the Ethena Foundation from related business activities will be used to buy back ENA. The reserve disclosure on October 23 showed USDe’s supply at approximately $4.631 billion—still below the first threshold. Stay tuned for what’s coming!