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PYTH Pyth Network announces major decision: Use all revenue to repurchase PYTH tokens
Pyth Network (PYTH), a blockchain-based data provider, has announced a major decision that will directly affect its token economy as its revenue grows. The project's Decentralized Autonomous Organization (DAO) has agreed to use all revenue generated by its products and funds transferred to its treasury to repurchase PYTH tokens.
The "100% rule" announced by Pyth Network and adopted under Proposal OP-PIP-136 stipulates that all revenue the DAO earns from Pyth products must be used to expand PYTH reserves. Under the previous mechanism, the DAO used only one-third of its treasury assets (excluding PYTH) for monthly token purchases.
Under the new mechanism, income received by the DAO in the form of stablecoins will purchase PYTH from the open market through a pre-authorized board of directors. The purchased tokens will then be transferred to the DAO treasury. Income earned directly in the form of PYTH will be added directly to reserves, eliminating the need to make new purchases from the market.
The chart shows the price fluctuation of PYTH.
