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Ethena Approves Protocol Fee Switch
Governance unanimously approves programmatic ENA buybacks funded by protocol revenue as USDe supply scales toward $100 billion.
It's Thursday, September 3, 2026.
Ethena approves a protocol fee switch. Ethereum developers tentatively schedule the Glamsterdam upgrade on the Sepolia testnet for October 6, 2026. Uniswap partners with the Pons token launchpad. And Polaris raises a $1 million angel round.
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Ethena Approves Protocol Fee Switch
Ethena's fee switch proposal passed with 100% approval from 17.8 million votes in favor. The vote activates programmatic ENA buybacks funded by protocol revenue, scaling upward as USDe circulating supply hits defined milestones. Net revenue from Ethena's business lines will be directed to open-market ENA buybacks.
The buyback rate increases at each supply milestone, with the schedule designed to support growth back toward Ethena's 2025 peak of ~$15 billion in USDe supply and a long-term target of $100 billion within five years. Buyback activity will be shared publicly on Ethena's transparency dashboard.
Glamsterdam On Sepolia October 6th
Ethereum core developers tentatively scheduled the Glamsterdam upgrade to activate on the Sepolia testnet on October 6, 2026, opting to delay from an earlier proposed date of September 28th. The extra week was requested so client teams could first run a successful fork transition on DevNet-10 before committing to a public testnet, given the size of the hard fork and recent issues with tools.
The Hoodi testnet date remains undecided due to timing conflicts with Devcon 8, which takes place from November 3-6, 2026. November 11th was suggested as an alternative once developers return from traveling. Separately, teams were reminded that EIP tier list rankings for the fork are due by September 10th, with accompanying rationale write-ups requested at least a day before the next ACDC call to allow preparation time.
Uniswap Partners With Pons Launchpad
Uniswap Labs purchased an undisclosed amount of $PONS tokens for long-term alignment with Pons, a non-custodial token launchpad on Robinhood Chain. Pons allows users to deploy fixed-supply tokens that trade immediately in Uniswap liquidity pools, routing protocol fees into $PONS buybacks and burns. Pons deployed its V2 architecture on Uniswap v4 hooks last month.
Pons launched on July 13 as an early launchpad on Robinhood Chain. Uniswap launched its own launchpad on Robinhood Chain, called Pools, nearly a month later. Pons has generated over $13.4 million in protocol revenue and surpassed $34 million in cumulative earnings for token creators.
Polaris Raises $1 Million
Polaris, a DeFi infrastructure protocol on Ethereum, raised a $1 million angel round backed by contributors across the Ethereum Foundation, Liquity, Altitude, LI.FI, and angel investor Anthony Sassano. Polaris is built around pETH, a yield-bearing reserve asset designed to collateralize decentralized stablecoins, synthetic assets, and tokenized commodities. ETH deposited through the Polaris bonding curve gets converted into pETH, which can also be split into fpETH and vpETH to isolate fixed and variable yield components. The protocol is currently live on the Sepolia testnet.
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