The Pyth Network DAO has approved a proposal according to which all funds received from Pyth products will be used to buy PYTH on the market and add it to the reserve.
Regarding the DAO’s share: it receives 60% of the revenue generated by the products it owns. Previously, one-third of the DAO’s balance in other assets was allocated each month for buybacks, and each transfer required a separate vote. Now, there is a single standing authorization, under which previously accumulated DAO assets are also included.
In September, Pyth’s annual revenue reached $11.5 million, with a quarterly growth rate of 86%. The main driver is perpetual contracts for stocks, gold, oil, and indices: more than 94% of their tracked volume—over $2 trillion for the quarter—is accounted for by Pyth, according to its data.
Among the clients are Kalshi, Coinbase, Kraken, Lighter, and Polymarket.
PYTH at the moment +14%