Ethena Foundation said its fee-conversion proposal passed with 100% support, launching programmatic ENA buybacks funded by a portion of protocol revenue. The program will expand gradually as specified performance metrics and milestones are met. ENA rose approximately 15% over 24 hours to $0.172 and ranked 45th by market capitalization. The decision follows four token-economic changes announced by the foundation on Aug. 27: buying back locked tokens held by early investors, strengthening alignment between ENA and company equity, starting governance for revenue-funded ENA buybacks, and canceling future monthly token unlocks for venture-capital investors.