🚨 ENA HAS A MAJOR TOKENOMICS UPDATE — AND THIS IS WHAT MATTERS
Ethena’s latest governance update brings an important development for ENA holders: the protocol’s fee switch has been approved.
The proposal allows up to 95% of qualifying net protocol revenue to go toward ENA buybacks, once specified USDe supply milestones are reached. The first threshold is $7.5 billion in USDe supply. This is a conditional mechanism—not a promise of immediate buybacks.
There’s another important detail: Ethena’s Q3 governance report says USDe supply recovered to $4.94 billion by September 30, while the protocol reported a 101.43% backing ratio as of October 12.
What should you watch next? Whether USDe reaches the required threshold and whether the fee-switch mechanism begins directing revenue toward buybacks.
That’s the real ENA story: a new token-revenue mechanism with clear conditions—not guaranteed price growth.
$ENA
.
.
..
.
#Ethena #DeFi #Write2Earn
Not financial advice. DYOR.
Ethena’s latest governance update brings an important development for ENA holders: the protocol’s fee switch has been approved.
The proposal allows up to 95% of qualifying net protocol revenue to go toward ENA buybacks, once specified USDe supply milestones are reached. The first threshold is $7.5 billion in USDe supply. This is a conditional mechanism—not a promise of immediate buybacks.
There’s another important detail: Ethena’s Q3 governance report says USDe supply recovered to $4.94 billion by September 30, while the protocol reported a 101.43% backing ratio as of October 12.
What should you watch next? Whether USDe reaches the required threshold and whether the fee-switch mechanism begins directing revenue toward buybacks.
That’s the real ENA story: a new token-revenue mechanism with clear conditions—not guaranteed price growth.
$ENA
.
.
..
.
#Ethena #DeFi #Write2Earn
Not financial advice. DYOR.