100% approval, Ethena fee conversion vote passes and launches programmatic ENA buyback

Odaily News, Ethena Foundation announced that the fee conversion vote has passed with 100% approval, and programmatic ENA buybacks will begin, gradually scaling up as metrics and milestones are achieved. ENA is up over 10.5% in the past 24 hours, currently trading at $0.166. On August 27, the Ethena Foundation announced four adjustments to the Ethena ecosystem, including buybacks of locked tokens held by early investors, further alignment of token and equity value, launching a governance proposal to use revenue for ENA buybacks, and canceling future monthly VC investor unlocks.