Ethena Foundation: Wintermute's proposal on "ENA Fee Conversion" has been approved

The Ethena Foundation announced on the X platform that the Wintermute proposal for enabling ENA fee conversion has been approved by the Risk Committee. The foundation will work with the Risk Committee to determine the activation parameters for fee conversion before November 30, following a precise implementation mechanism.

In previous news, Wintermute proposed an "ENA Fee Conversion" proposal in the Ethena governance forum, suggesting approval of part of protocol revenue flowing towards sENA and providing clear parameters for future implementation. The proposal asked Ethena's Risk Committee to set income distribution conditions based on protocol maturity, such as USDe circulation and protocol profit levels. At the same time, Wintermute called on the Ethena Foundation to publicly disclose historical and future allocation of protocol revenues to ensure transparency and alignment with ENA/sENA holders' interests.