Pyth Network has unveiled a new PYTH Reserve mechanism to facilitate monthly token buybacks using protocol revenue. This initiative, managed through the DAO treasury, allocates one-third of its funds for open market purchases. The strategy is designed to enhance network activity and align the value of the token with product adoption.
With a cumulative trading volume exceeding $230 billion, Pyth Network aims to increase its revenue streams through offerings like Pyth Pro, Pyth Core, Entropy, and Express Relay. The company projects that Pyth Pro alone could generate $500 million annually by capturing just 1% of the $50 billion market data spending by financial institutions.
Pyth Network Introduces Monthly Token Buyback via PYTH Reserve
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