Pyth's DAO will now put 100% of what it earns from Pyth products into buying PYTH on the open market. By our math, that's around $6.9M a year.
The vote, OP-PIP-136, replaces the old rule, where each month's buy was capped at a third of the DAO's non-PYTH balance and needed its own vote. The first buys under the new rule ran on Sept 30. Purchased tokens go to the PYTH Reserve, which holds about 42M PYTH, and can't be sold without another DAO vote.
The 100% applies to the DAO's cut. Pyth reports $11.5M in annual recurring revenue, up 86% from Q2, and the DAO gets 60% on the products it owns. If that 60% applied to all $11.5M, the DAO would have about $575K a month to spend, roughly 80M PYTH a year at today's $0.086.
The last 2.125B PYTH, about 27% of today's circulating supply, unlocks on May 20, 2027. A full year of buybacks at today's revenue and price covers about 3.8% of that. PYTH is up about 14% in the last 24 hours.
A real bid, sized by revenue. At today's numbers, the May 2027 unlock equals about 26 years of it.
$PYTH
#PythNetwork #Tokenomics
NFA. DYOR.
The vote, OP-PIP-136, replaces the old rule, where each month's buy was capped at a third of the DAO's non-PYTH balance and needed its own vote. The first buys under the new rule ran on Sept 30. Purchased tokens go to the PYTH Reserve, which holds about 42M PYTH, and can't be sold without another DAO vote.
The 100% applies to the DAO's cut. Pyth reports $11.5M in annual recurring revenue, up 86% from Q2, and the DAO gets 60% on the products it owns. If that 60% applied to all $11.5M, the DAO would have about $575K a month to spend, roughly 80M PYTH a year at today's $0.086.
The last 2.125B PYTH, about 27% of today's circulating supply, unlocks on May 20, 2027. A full year of buybacks at today's revenue and price covers about 3.8% of that. PYTH is up about 14% in the last 24 hours.
A real bid, sized by revenue. At today's numbers, the May 2027 unlock equals about 26 years of it.
$PYTH
#PythNetwork #Tokenomics
NFA. DYOR.