ENA price dips 6.5% despite fee switch milestone and buyback potential

The Ethena Foundation announced that the fee switch parameters set by the Risk Committee have been ￰0￱ opens the door to launching the ENA fee switch, eventually sharing some of the protocol’s revenues with token ￰1￱ Ethena Foundation announced that the protocol reached the fee switch parameters as set by the Risk ￰2￱ ENA fee switch is the technology that deemed the protocol stable enough to share some of the revenues with ENA ￰3￱ Ethena Risk Committee will have to sign off on the implementation of the fee switch, then put up a proposal for a community vote.) may receive 4.5% to 15% annualized ￰4￱ on the current Ethena fees of $50 to $60M monthly, the revenues will be distributed over $750M in staked ￰5￱ switch will bring additional utility to ENA The fee switch milestone means ENA staking is no longer used for airdrops only.

Additionally, the protocol will unlock $500M for buybacks, further rewarding the holders with potential market price ￰6￱ fee switch was reached as Ethena carried a record value locked of over $13.2B. The other conditions to be fulfilled included a supply of USDe over $6B. The USDe market cap is now more than double the target at $13.7B. The second condition was for the protocol to reach cumulative revenue of $250M.

The other milestone was for USDe to be added to four of the top five centralized exchanges with the highest derivative ￰7￱ condition was fulfilled after the token’s recent addition to ￰8￱ only element remaining is the technical governance ￰9￱ fee switch may mean Ethena may create up to $100M buying pressure based on current activity and ￰10￱ price drops despite positive news The news of eventual buybacks and fee sharing did not turn immediately bullish for ￰11￱ token slid soon after the news, losing around 6.5% to $0.70. ENA price chart |