Pyth launches token buyback program, allocating 33% of DAO treasury to monthly PYTH purchases

Pyth Network, a data protocol for crypto and other assets, has launched the "PYTH Reserve" token buyback program to support the value of its PYTH token. This program will use 33% of the total Pyth DAO treasury balance each month to acquire PYTH on the open market. The first buyback is expected to be between $100,000 and $200,000, based on the current $500,000 treasury balance, with amounts projected to increase as revenue grows. Michael James, a contributor from developer Douro Labs, noted that Pyth Pro, their newest data product, has already achieved $1 million in Annual Recurring Revenue (ARR) since launching in September and they are targeting $50 million ARR within 12–18 months, with a long-term goal of $500 million ARR. The buyback aims to drive "token utility and value accrual" by linking PYTH more closely to network adoption.

(Source：The Block)