Blockchain-based data provider Pyth Network (PYTH) announced a significant decision that will directly impact its token economy following growth in revenue. The project’s decentralized governance organization (DAO) has agreed to redirect all revenue generated from its products and transferred to its treasury towards PYTH token buybacks.
The “100% Rule,” announced by Pyth Network and approved under proposal OP-PIP-136, stipulates that all revenue generated by the DAO from Pyth products must be used to grow the PYTH reserve. Under the previous system, the DAO allocated only one-third of its treasury assets (excluding PYTH) to monthly token purchases.
According to the new mechanism, revenues received by the DAO as stablecoins will be used to purchase PYTH from the open market through a pre-authorized council. The purchased tokens will then be transferred to the DAO treasury. Revenues obtained directly in PYTH will be added to reserves without making new purchases from the market.
Pyth Network has reported that its current PYTH reserve has reached approximately 42 million tokens. However, the new regulation covers only the revenue share transferred to the DAO and approved under the relevant proposal, not all of the protocol’s revenue.
*This is not investment advice.
Hello mate! Have you lost funds through a fake crypto website and are you looking for guidance on possible recovery options? Would you also like to learn more about how the crypto market works? Feel free to reach out to learn more about reporting scams, exploring legitimate recovery options, and understanding crypto trading. Please remember that fund recovery is not always possible,
MY TELEGRAM 👉 ( TUDORJONES)..
MY WHATSAPP 👉 (+1 3049873290)
Interested in learning how crypto market trading works? I’m here to guide you step by step, help you understand the basics, and build your trading knowledge while learning about risk management.
Contact me for guidance and start your crypto learning journey today!
MY TELEGRAM 👉 (TUDORJONES)……..
MY WHATSAPP 👉 (+1 3049873290)
Hello, have you lost crypto funds through a fake investment company, fraudulent manager, hacked account, or another crypto scam? You’re not alone.
While recovery is not always possible, there may be legitimate steps you can take to document the incident, report the scam, and explore available recovery options.
Send us a DM for more information and guidance. 👇
WHATSAPP 👉 (+1 3049873290)……….
TELEGRAM 👉 (TUDORJONES)