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Ethena Proposes Redirecting Revenue to ENA Buybacks
The Ethena Foundation has initiated a governance vote to allocate all net revenue from its businesses to buy back ENA tokens, potentially using nearly 100% of revenue for this purpose.
AS1 NewsSource: thedefiant.io
ENA
WOULDThe Ethena Foundation has opened a governance vote on Snapshot to decide whether to direct all net revenue generated from Ethena-branded businesses into programmatic buybacks of ENA tokens. If approved, this fee switch would utilize effectively 100% of the net revenue for ENA purchases, aiming to support the token's value and ecosystem. The proposal reflects the Foundation's strategy to leverage its revenue streams for token support and community growth. The vote was live as of Thursday, August 27, and its outcome could influence ENA's market dynamics and the Foundation's governance approach.
The proposal could lead to increased buyback activity for ENA, potentially affecting its market supply and price if adopted.