Ethena Eyes Revenue Push with New ENA Buyback Proposal

The Ethena Foundation has introduced a governance proposal that could change how the project handles its incoming cash flow. If the community votes in favor of this plan, the project will dedicate all net revenue generated by its various businesses toward programmatic buybacks of the ENA token.

This move represents a shift toward a fee switch model where 100 percent of net profits go directly into purchasing ENA from the open market. The proposal officially appeared on the Snapshot voting platform on Thursday, August 27. It is designed to create a direct link between the growth of the Ethena ecosystem and the supply of the token.

For market participants, this decision serves as a key indicator of how the foundation plans to increase value for its token holders. Traders will be watching closely to see if the proposal passes and how the market reacts to the prospect of constant buy pressure. The outcome of this vote will likely influence sentiment regarding the long term utility of the ENA asset.