Ethena Foundation announced four major updates for its ENA token: the purchase of all locked tokens from seed investors, the end of monthly VC selling pressure, the transfer of brand and IP rights to the foundation governed by token holders, and finally a fee switch mechanism with an ENA buyback program. The proposal received 100% community support. ENA’s price rallied 15% then gained another 12% to reach a yearly high of $0.189. If USDe supply exceeds $7.5 billion and annualized revenue reaches $450 million, 5% of proceeds, equivalent to $22 million, will be allocated to ENA token buybacks.
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