Ethena Foundation recorded 100 percent support for its fee switch proposal.
The vote authorizes use of 95 percent of net protocol revenue for programmatic ENA purchases once USDe circulating supply hits 7.5 billion dollars. Current supply stands near 4.07 billion dollars.
Buybacks will scale only after that threshold is crossed and further milestones are achieved. The mechanism routes revenue directly into market purchases rather than treasury accumulation.
Token holders gain from reduced circulating supply when revenue flows increase. Early investors and locked token holders see continued alignment through separate buyout arrangements completed last month.
The remaining gap to the first buyback tier leaves timing dependent on USDe growth. No purchases begin until the supply condition is met.
Market data showed ENA rising roughly 15 percent in the 24 hours after the result, trading near 0.172 dollars.
Sources: bitget.com, cryptoticker.io
Illustration generated with AI.
Not financial advice. Always do your own research.
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#Ethena #ENA #USDe #Buybacks #Governance
September 4, 2026 20
