The Ethena Foundation announced that it is nearing the launch of its long-awaited “fee switch” mechanism for the ENA token. In an official statement, the foundation confirmed that the parameters set by the Risk Committee have been met and the process is progressing. Accordingly, the ENA fee switch mechanism will be activated after the Risk Committee finalizes the implementation details and completes the necessary governance processes. The Committee is currently discussing the final implementation plan. Once the framework is finalized, the plan will be made public, and ENA token holders will vote to decide whether the proposed system will be implemented. This development is seen as a significant step in the Ethena ecosystem, and the community is eagerly awaiting the completion of the governance process for the fee switch to be officially launched. If approved by a formal vote by ENA holders, the change could grant direct exposure to platform revenue, more closely aligning incentives with the protocol's growth. The Risk Committee noted that details will be published before the proposal is put to a vote. *This is not investment advice.