Orca Proposes 10% Buyback Account as Token Gains More Than 80% in a Week

Orca has proposed creating a team-operated account dedicated to token buybacks, adding a governance decision to a rally of more than 80% over the past week.

The proposal would allocate 10% to the buyback account through a new fee-sharing arrangement. Voting is scheduled to close Oct. 10.

The token rose 9.78% Wednesday to $2.903, extending its seven-day gain beyond 80%. The token rose as the Solana-based liquidity protocol moved to add the proposed buyback account.

The proposal’s next concrete step is the Oct. 10 voting deadline, when the community’s decision on the fee-sharing and buyback plan is expected.