$ENA
The proposal for "ENA Fee Conversion" presented by Wintermute at the Ethena governance forum mainly includes the following key points:
Wintermute suggests approving the allocation of part of the protocol's revenue to sENA and providing clear parameters for future implementation. This means that a portion of Ethena's protocol revenue will be allocated to sENA holders, which may increase the attractiveness of sENA and provide additional income for holders.
The proposal requires the Ethena Risk Committee to set conditions for revenue distribution based on the maturity of the protocol, including the circulation of USDe and the level of protocol revenue. This indicates that the specific conditions for revenue distribution will be determined by the Ethena Risk Committee based on the protocol's maturity and market conditions to ensure the reasonableness of revenue distribution and the stability of the protocol.
Wintermute calls on the Ethena Foundation to publicly disclose the historical and future distribution of protocol revenue to ensure transparency and alignment with the interests of ENA/sENA holders. This emphasizes the importance of transparency; by making information public, trust among community members in the Ethena protocol can be increased, and their interests can be protected.
