PANews reported on November 16 that the Ethena Foundation stated on the X platform that the Wintermute proposal to enable ENA fee conversion has been approved by the Risk Committee. The Foundation will work with the Risk Committee to determine the fee conversion activation parameters by November 30 and follow the precise implementation mechanism.

Earlier news , Wintermute proposed the "ENA Fee Conversion" proposal in the Ethena Governance Forum, suggesting that part of the protocol revenue be approved to flow to sENA and provide clear parameters for future implementation. The proposal requires the Ethena Risk Committee to set revenue distribution conditions for protocol maturity, such as USDe circulation and protocol revenue levels. At the same time, Wintermute called on the Ethena Foundation to disclose the historical and future distribution of protocol revenue to ensure transparency and alignment with the interests of ENA/sENA holders.