Ethena Foundation has put forward a proposal to allocate nearly all ecosystem net revenue to a programmatic buyback of its ENA governance token. The announcement came on August 27, 2026, alongside a wave of updates for the Ethena ecosystem.

Community Vote on ENA Buyback

The plan calls for the protocol’s net income to be used for regular, automated ENA buybacks. The final decision will be made through a community vote. The team broke down the mechanics and parameters in a detailed blog post.

Other Ecosystem Updates

Alongside the buyback proposal, the team rolled out four major updates. These include buying back locked tokens from several major seed investors, restructuring protocol-owned value, and cutting future token emissions.

Where to Get the Full Details

Ethena Foundation says a full breakdown of each change is available on their blog, with the official announcement posted on the project’s X account. Check the original source for more info.