Ethena Governance Approves Fee Switch, Initiating Programmatic ENA Buybacks

The Ethena Foundation announced that the fee switch governance proposal has passed with 100% approval. The protocol will now begin programmatic ENA buybacks, which are set to scale as specific performance metrics and milestones are achieved. This follows the foundation's recent strategic adjustments, which include repurchasing locked tokens from early investors and canceling future monthly VC token unlocks to better align token and equity value.