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PYTH Pyth Network DAO uses full product revenue to buy back tokens through an aggressive repurchase policy.
Pyth Network's Decentralized Autonomous Organization (DAO) has approved a major change that completely changes the way it deploys revenue, and the market has reacted strongly to this. After successfully passing the governance vote, according to formal proposal OP-PIP-136, all income from eligible Pyth products will be used to buy back $PYTH tokens on the open market.
The shift from one-third to 100 percent
marks a sharp escalation of policy. The previous framework OP-PIP-87 was adopted in December 2025. Under this mechanism, the monthly repurchase amount is capped at one-third of the DAO's non-PYTH treasury balance, and each round of repurchase requires a separate vote.
The new "100% rule" removes these two restrictions. OP-PIP-136 stipulates that every eligible product revenue will be used directly to purchase $PYTH, and the DAO no longer needs to vote monthly to release funds.
It is worth noting that "100% of income" is clearly defined in actual operation. Not all income goes directly to the DAO account. DAO receives approximately 60% of revenue from Pyth Pro and other products, while Douro Labs retains the remaining 40%. The "100% rule" only applies to the DAO's share, so the buyback budget is based on the DAO's share of profits rather than total revenue of $11.5 million.
This arrangement links recurring $PYTH requirements to revenue streams rather than setting a fixed purchase amount. Funds received in the form of stablecoins will be used in the open market to purchase $PYTH, while funds received directly in the form of $PYTH will be transferred to the reserve pool.
The key point is that once $PYTH is bought back, it cannot be sold. These tokens will be permanently locked out after entering the reserve pool.
Revenue Background and Market Reaction
Pyth reported that its annualized recurring income reached US$11.5 million in September 2026, an increase of 86% from the previous quarter. It is this increase in revenue that makes the new policy particularly important: as earnings rise, so does the size of buybacks.
Pyth confirmed that acquisitions under the new authorization began on September 30. As of the announcement on October 8, reserve positions were approximately 42 million $PYTH tokens.
The market responded quickly. After the DAO approved the plan, prices on Pyth Network soared more than 14% to $0.08605 on Friday, October 9. 24-hour trading volume hit approximately $119 million, soaring more than 287%.
For $PYTH holders, the mechanism is simple and clear: the more income, the greater the buying pressure, and there is no exit channel for the tokens they buy. Whether this translates into continued price support will depend on the continued growth of Pyth's data products business.
