BlockBeats news, on August 7, the Orca council released a governance proposal to use up to 55,000 SOL to buy back ORCA and stake it to the validator node. During the 5-day voting period and a 2-day cooling-off period, ORCA token holders may submit veto votes. Proposal details:

· Fund scale: The total SOL and USDC in the treasury wallet is currently approximately 55,000 SOL and 400,000 USDC.

· Execution method: All SOL in the treasury wallet will first be staked at the Orca validator node, and then periodically withdrawn as needed to execute the Orca buyback plan. This plan will be conducted either on a decentralized exchange or in collaboration with market makers, lasting for 24 months, with a daily buyback limit of 2% of the 30-day average trading volume of ORCA, to minimize market impact.

· Storage and use of repurchased tokens: The repurchased ORCA tokens will be stored in a multi-signature DAO treasury wallet. The committee plans to burn these tokens to permanently reduce the circulation of ORCA, allocate them to the xORCA pool as rewards, or use them for ecosystem funding.

· Risk management of the buyback plan: Buybacks will be suspended during periods of high market volatility (when the ORCA price fluctuates more than 15% within 24 hours).