Originally published on: November 15, 2024
Ethena Foundation has approved Wintermute’s proposal to share a portion of the revenues from its decentralized finance (DeFi) protocol with tokenholders. Wintermute suggested allocating a percentage of Ethena’s fee revenue to stakers of ENA, the protocol’s native token, which is currently valued at $0.5441.
This exciting news was announced in Wintermute’s governance forum on Nov. 15, where they expressed their enthusiasm for the approval of the proposal. The Ethena Foundation sees this move as a positive step towards enabling an ENA fee switch that benefits all stakeholders.
Wintermute’s proposal aims to bridge the gap between revenue generation and tokenholder benefits. By allowing stakers of ENA to share in the protocol’s revenue, Wintermute hopes to create a more equitable system that rewards those who contribute to the growth of the protocol.
In addition to this fee-sharing initiative, Ethena Labs recently introduced USDe, an interest-earning stablecoin that has gained significant traction in the market. USDe’s circulating supply has reached nearly $3.2 billion, showcasing the stablecoin’s popularity among users.
With Wintermute’s ongoing efforts to expand the utility of USDe and enhance the value proposition of ENA, Ethena’s ecosystem is poised for continued growth and success. Stay tuned for more updates on how these developments will impact the DeFi landscape and open up new opportunities for investors and users alike.
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