Pyth to launch reserve using buybacks from DAO treasury funds

The Pyth Network, a blockchain oracle provider, announced a new reserve strategy that involves purchasing its native PYTH token on the open market. This initiative will utilize approximately 33% of the protocol's revenue, managed through its Decentralized Autonomous Organization (DAO). The stated goal of this strategy is to increase both revenue and token purchases. This move comes as the price of PYTH has dropped significantly over the past year. The article notes that other protocols, such as Aave DAO, have also proposed similar buyback initiatives, although the reception from the community can sometimes be mixed, as seen in a past instance with Mango Markets.

(Source：Cointelegraph)