The Ethena Foundation announced that Wintermute's proposal to "enable ENA fee conversion" has been approved by the Risk Committee. The Foundation will work with the Risk Committee to finalize the relevant parameters for fee switch activation by November 30, and the specific implementation mechanism will be announced later. Previously, it was reported that on November 7, Wintermute presented a "ENA fee conversion" proposal at the Ethena Governance Forum, recommending approval of some of the agreement revenue to go to sENA and providing clear parameters for future implementation. The proposal requires the Ethena Risk Committee to set revenue allocation conditions for the maturity of the agreement, such as USDe circulation and agreement revenue level.