The Ethena Foundation confirms that the conditions for the fee switch parameter have been met and is about to enter the launch phase. 🚀
This means that protocol revenue will flow to sENA holders for the first time. Currently, the Ethena protocol revenue has exceeded 500 million USD, and even if only a portion is distributed, achieving an annualized return of 4% is not difficult; in a bull market with rising funding rates, returns could potentially exceed 10%.
From this perspective, the implementation of the fee switch is key to ENA transitioning into a "cash flow asset," and its long-term value will only become more solid.
The Ethena Foundation can confirm that the fee switch parameters set by the Risk Committee have now been met and the ENA fee switch is expected to be activated following Ethena Risk Committee sign off on the implementation details and further governance process
The Ethena Risk Committee is discussing implementation details, which will be confirmed publicly once finalised - at which point ENA holders will be asked to confirm the proposed framework via vote
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