$PYTH ARR Up 86%, DAO Commits 100% To Reserve 📈
If you've followed $LINK for its role in DeFi infrastructure, the commercial numbers coming out of Pyth deserve a serious look. The new DAO policy commits every dollar it receives from Pyth products to accumulating PYTH.
Here's what makes the timing so interesting.
At the end of Q1, Pyth had $2.95M in annual recurring revenue. By Q2, that number had climbed to $6.16M, and Q3 closed at $11.49M.
That's $5.33M in net new ARR during a single quarter.
Now imagine evaluating that same growth curve alongside a standing monthly accumulation mechanism.
Under OP-PIP-136, funds received by the DAO from Pyth products are committed entirely to the PYTH Reserve. Stablecoins are used to purchase PYTH on the open market, while PYTH received directly is added to the Reserve.
The distinction is important: the policy covers funds received by the DAO, rather than Pyth's entire gross revenue.
I find this particularly compelling because the underlying business already has 276 paying accounts and supplied prices for $2.04T of tracked RWA perp volume last quarter.
There is a commercial business here that investors can actually analyze.
The PYTH Reserve currently holds 42M tokens, with acquisitions documented through onchain transaction proofs and monthly reporting.
I'm watching how quickly the size of those acquisitions changes as the business grows. That relationship between commercial income and Reserve activity may become one of the most useful metrics for evaluating PYTH.
Most people will watch the price chart. I'll be watching the monthly Reserve reports alongside it.
#Altcoin Season# #RWA
If you've followed $LINK for its role in DeFi infrastructure, the commercial numbers coming out of Pyth deserve a serious look. The new DAO policy commits every dollar it receives from Pyth products to accumulating PYTH.
Here's what makes the timing so interesting.
At the end of Q1, Pyth had $2.95M in annual recurring revenue. By Q2, that number had climbed to $6.16M, and Q3 closed at $11.49M.
That's $5.33M in net new ARR during a single quarter.
Now imagine evaluating that same growth curve alongside a standing monthly accumulation mechanism.
Under OP-PIP-136, funds received by the DAO from Pyth products are committed entirely to the PYTH Reserve. Stablecoins are used to purchase PYTH on the open market, while PYTH received directly is added to the Reserve.
The distinction is important: the policy covers funds received by the DAO, rather than Pyth's entire gross revenue.
I find this particularly compelling because the underlying business already has 276 paying accounts and supplied prices for $2.04T of tracked RWA perp volume last quarter.
There is a commercial business here that investors can actually analyze.
The PYTH Reserve currently holds 42M tokens, with acquisitions documented through onchain transaction proofs and monthly reporting.
I'm watching how quickly the size of those acquisitions changes as the business grows. That relationship between commercial income and Reserve activity may become one of the most useful metrics for evaluating PYTH.
Most people will watch the price chart. I'll be watching the monthly Reserve reports alongside it.
#Altcoin Season# #RWA