Pyth DAO Approves ‘100% Rule’ Directing Its Share of Product Revenue to PYTH Buybacks
By Unchained
AI summary of the source article
The Pyth DAO has approved proposal OP-PIP-136, directing 100% of its product revenue share into open-market purchases of PYTH tokens. The policy establishes a standing authorization that replaces prior monthly votes, extending to non-PYTH assets held by the DAO. The DAO receives a 60% share of revenue from products including Pyth Pro subscriptions, Listing as a Service, the Data Marketplace, and Pyth Indices, while Douro Labs retains its contractual share. Revenue received in stablecoins will be converted into PYTH via the Pythian Council Ops Multisig under specific trading parameters, and purchased tokens cannot be sold, borrowed against, or distributed.
Why it matters
Douro Labs CEO Mike Cahill described the DAO directing its entire revenue share into the Reserve as the strongest alignment the network has experienced.
Key facts
- Proposal OP-PIP-136 directs 100% of Pyth DAO's 60% product revenue share to open-market PYTH buybacks.
- Pyth reached $11.5 million in overall annual recurring revenue in September, up 86% quarter over quarter.
- The Pythian Council Ops Multisig converts stablecoins into PYTH with a 5% slippage cap and a $25,000 limit per trade.