ENA token rises 10% as Ethena puts revenue-funded token buybacks to vote

Bullish+19.76%

28 Aug, 09:27

Source: Cointelegraph

AI Summary

Ethena Foundation proposes revenue-funded ENA token buybacks with 95% of net protocol revenue, driving a 10% price increase.

ENA token rises 10% as Ethena puts revenue-funded token buybacks to vote

The Ethena Foundation proposed buying the token supply held by major early investors and revealed a fee switch to turn 95% of net protocol revenue into ENA buybacks.