BlockBeats News, September 3rd, the Ethena Foundation announced that the Fee Conversion proposal has been approved with a 100% approval rate. The programmatic ENA buyback will commence, gradually scaling up with the achievement of key metrics and milestones.

According to HTX Market, ENA surged over 10.5% in the past 24 hours, now trading at $0.166.

On August 27th, the Ethena Foundation announced four adjustments to the Ethena ecosystem, including buying back locked tokens held by early investors, further aligning token value with equity, initiating a governance proposal to buy back ENA from revenue, and canceling future monthly VC investor unlocks.