# Proposal: Reduction of Risk Committee members from 5 to 3 **URL:** \ **Category:** Risk Committee\ **Created:** [January 27, 2026, 1:30pm UTC](https://gov.ethenafoundation.com/t/proposal-reduction-of-risk-committee-members-from-5-to-3/735 "2026-01-27T13:30:49Z")\ **Posts on this page:** 1\ **Showing post:** 11
**Author:** ![OAKResearch](https://yyz1.discourse-cdn.com/flex003/user_avatar/gov.ethenafoundation.com/oakresearch/32/489_2.png) [@OAKResearch](https://gov.ethenafoundation.com/u/OAKResearch)\ **Post date:** [February 9, 2026, 11:46am UTC](https://gov.ethenafoundation.com/t/proposal-reduction-of-risk-committee-members-from-5-to-3/735/11 "2026-02-09T11:46:46Z")
Given the importance of the fee switch for the voters, we decided to clarify our position regarding the ENA buybacks and the activation of the fee switch. We do not think that this is the right moment for Ethena to focus on this topic as it could have negative long-term effects on the protocol. Full thesis available down below. > **[Ethena: why activating the fee switch now would be a mistake](https://oakresearch.io/en/reports/protocols/ethena-why-activating-fee-switch-now-would-be-mistake)** > > At the heart of Ethena’s governance, a proposal is currently being debated: activating the fee switch to redirect part of USDe’s revenues toward ENA buybacks. I... --- _[View the full topic](https://gov.ethenafoundation.com/t/proposal-reduction-of-risk-committee-members-from-5-to-3/735)._