Cointime

Download App
iOS & Android

Pyth DAO Approves '100% Rule' for Product Revenue to Buy Back PYTH

According to an official announcement, the decentralized autonomous organization Pyth DAO has approved the OP-PIP-136 proposal, deciding to allocate 100% of the funds obtained from its products to purchase PYTH on the open market and deposit it into the reserve. Previously, this proportion was one-third of the non-PYTH treasury balance. The proposal replaces the original monthly proposal voting process with a long-term authorization and also applies to the existing non-PYTH assets in the treasury. The execution rules remain unchanged, including a 5% slippage limit, a transaction limit of $25,000 per trade, and on-chain public reporting. Data shows that Pyth's overall annual recurring revenue (ARR) has reached $11.5 million, an 86% quarter-over-quarter increase. Over the past three months, more than 94% of the trading volume of real-world asset (RWA) perpetual contracts has utilized Pyth data. As of now, the PYTH reserve holds 42 million tokens.

Comments

All Comments

Recommended for you

  • Dow Jones Index Declines by 1.5%

    On October 23, the Dow Jones Index fell by 1.5%, the S&P 500 Index decreased by 0.65%, and the Nasdaq Composite Index dropped by 0.29%.
  • U.S. Airline Stocks Decline

    On October 23, American Airlines fell by 5.6%, Southwest Airlines dropped by 4%, and JetBlue Airways decreased by 5%. Delta Air Lines declined by 4.7%, Alaska Air Group fell by 5.2%, and United Airlines dropped by 5.1%.
  • U.S. Storage Stocks Rise, SK Hynix and Micron Up Over 3%

    On October 23, U.S. storage stocks saw a broad increase, with SK Hynix and Micron rising over 3%, while SanDisk and Rambus gained over 2%.
  • U.S. Stocks Open: Dow Jones Down 1%, Western Digital Falls About 3%

    The S&P 500 index fell by 0.45%, and the Nasdaq dropped by 0.3%. Semiconductor stocks showed mixed results, with SK Hynix rising by about 3%; Western Digital fell by approximately 3% after the company released its first-quarter financial report.
  • Anthropic Executive: AI Tools Will Uncover More Cybersecurity Vulnerabilities

    Anthropic executive: AI tools will uncover more cybersecurity vulnerabilities.
  • White House Announces Temporary Ceasefire Agreement Between Russia and Ukraine in Oleshky

    The White House stated on the 23rd that the United States successfully facilitated a ceasefire agreement between Russia and Ukraine in Oleshky. Both countries have agreed to temporarily halt all military operations in Oleshky to allow humanitarian supplies to enter and to arrange for civilians to evacuate through designated safe passages. The ceasefire will begin on October 29. (Xinhua News Agency)
  • Nvidia Turns Lower in Pre-Market After Earlier 1.5% Gain

    On October 23, Nvidia turned lower in pre-market trading after having risen 1.5% earlier.
  • Brent Crude Oil Surpasses $115 per Barrel

    Brent crude oil has surpassed $115 per barrel, rising 1.6% during the day; WTI crude oil saw an increase of 2.0% during the day, reporting at $101.47 per barrel.
  • Bank of America Warns Market Risk Aversion May Last Until Mid-November Amid Three Ongoing Risks

    On October 23, Bank of America strategist Michael Hartnett stated in a recent client report that the current global market risk aversion may continue until mid-November. He emphasized a tactical caution towards risk assets until the uncertainties surrounding AI financing risks, pressure in the French bond market, and the U.S. midterm elections are alleviated. In terms of liquidity, although investors are shifting towards defensive positions, technology stocks remain crowded. EPFR Global data shows that technology stock funds recorded the largest inflow since July in the past week, while Bank of America's October fund manager survey indicates that global investors' allocation to technology stocks has reached its highest level since August 2020. Hartnett believes that if the credit spreads related to AI super cloud companies peak, it could signal an important improvement in risk appetite. He is also monitoring the yield on French 10-year government bonds and the France-Germany yield spread, as well as the policy uncertainties surrounding the U.S. midterm elections on November 3. Until these risks are re-priced, the market may maintain a defensive stance in the short term.
  • Whale Transfers 4,000 BTC Worth Approximately $327 Million to Exchanges in 5 Hours

    On October 23, according to monitoring by Lookonchain, a whale transferred a total of 4,000 BTC, worth approximately $327 million, to Binance and Deribit within the past 5 hours.