Ethena Buyback Vote and VC Unlock Changes Support ENA Outlook

Ethena’s ENA token surged as the protocol advanced changes designed to reduce selling pressure from investors and direct more protocol revenue toward ENA, CoinDesk reported on Aug. 27, 2026. The developments include a proposed buyback vote and an overhaul of the schedule governing venture-capital token unlocks. Ethena is pursuing the measures as it seeks to revive growth in USDe, its related crypto asset. The proposed changes could alter how investor-held tokens reach the market while increasing the role of protocol revenue in supporting ENA. The report did not provide details on the size or timing of any buybacks, the revised unlock schedule, or the vote’s outcome. ENA and USDe are the assets directly linked to the developments described.