Skip to main content
iCute FinanceDIGITAL ASSETS · MARKET OBSERVATION
English
Research directory
iCute Finance

Primary navigation

Primary navigation

DIGITAL ASSETS · MARKET OBSERVATION

Pyth DAO passes OP-PIP-136, 100% of product revenue will be used to buy back PYTH

PANews October 8 news, according to the official Pyth blog, Pyth DAO has passed the OP-PIP-136 proposal, committing to use all revenue (100%) it receives from Pyth products to buy PYTH on the open market and inject it into the reserve, compared with the previous ratio of one-third of non-PYTH balances. The proposal replaces the previous monthly individual votes with a long-term authorization. The products covered include Pyth Pro subscriptions, Listing as a Service, Data Marketplace, and Pyth Indices, and non-PYTH assets already held by the DAO are also included. As of now, the PYTH reserve has accumulated 42 million tokens, and the first purchase under the new authorization was executed on September 30. Pyth's overall ARR is at

PANews October 8 news, according to the official Pyth blog, Pyth DAO has approved the "100% Rule," directing all Pyth product revenue received by the DAO to open market buybacks of PYTH, replacing the previous mechanism of using one-third of the non-PYTH treasury balance for buybacks each month. This ratio applies to the DAO's share, not the protocol's total gross revenue. As of the end of September, Pyth's annual recurring revenue (ARR) reached $11.49 million, up 86.5% quarter-over-quarter, with 276 paying accounts.

Related news

  1. Russia’s Central Bank Authorizes Sberbank to Exchange Cryptocurrencies

    Bitcoin Magazine Russia’s Central Bank Authorizes Sberbank to Exchange Cryptocurrencies Sberbank will debut its bitcoin-related products in December.

    Bitcoin Magazine
  2. Kraken Parent Company Payward to Buy Saldo Bank in European Banking Push

    Bitcoin Magazine Kraken Parent Company Payward to Buy Saldo Bank in European Banking Push Top crypto exchange Kraken is pushing to offer other services other than digital assets.

    Bitcoin Magazine
  3. Kraken Parent Payward Wins Full Dubai License, Plans UAE Launch

    Bitcoin Magazine Kraken Parent Payward Wins Full Dubai License, Plans UAE Launch Kraken currently has more than 100 licenses and registrations worldwide.

    Bitcoin Magazine
  4. Moscow Exchange to Launch Bitcoin Trading, Testing Underway

    Bitcoin Magazine Moscow Exchange to Launch Bitcoin Trading, Testing Underway Russia in recent months has paved the way to allow its citizens to trade bitcoin.

    Bitcoin Magazine
  5. Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course

    Bitcoin Magazine Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course Investors have fast cashed out of bitcoin exchange-traded funds this week. It’s showing in the pric...

    Bitcoin Magazine