Ethena Prepares for ENA Fee Switch Activation Following Thresholds Met
- Ethena plans to activate the ENA fee switch pending approval from its Risk Committee and a tokenholder vote.
- The required parameters include a USDe supply exceeding $6 billion and lifetime protocol revenue above $250 million.
- As of the latest update, Ethena reported a USDe supply of $12.1 billion and a sUSDe APY of 8.54%.
- The Foundation has integrated with three out of five top centralized exchanges, moving closer to fulfilling its adoption criteria.
- Annual protocol revenue projections suggest potential yields for ENA holders could exceed 5% based on various staking scenarios.
Ethena’s governance structure allows for flexibility in distribution mechanics based on market conditions and legal considerations, ensuring that protocols are met before any fee switch activation occurs.
With the current USDe supply at $12.1 billion, Ethena is positioned to offer significant yields to ENA holders once the fee switch is activated following necessary approvals.(Source)
