Pyth DAO Approves 100% Rule for PYTH Market Buybacks

Pyth DAO approved a policy directing all product revenue it receives to open-market PYTH buybacks, replacing a previous treasury-based purchase mechanism.

The new 100% rule applies to the DAO’s share of product revenue, not to the protocol’s total revenue. Under the former system, the DAO used one-third of its non-PYTH treasury balance for monthly PYTH purchases.

Pyth’s annual recurring revenue reached $11.49 million at the end of September, an 86.5% increase from the previous quarter. The network also had 276 paying accounts.

The policy links the DAO’s product revenue directly to purchases of PYTH in the open market, while the recurring-revenue figures show continued growth in paid account activity.