The network’s reserve will consist of purchases of the network’s native PYTH token, utilizing approximately 33% of the protocol’s revenue through the DAO.
The Pyth Network, a blockchain oracle provider, said it will convert a portion of its revenue into PYTH token purchases as part of a reserve strategy.
In a Friday blog post, Pyth said the tokens it buys on the open market with one-third of the protocol’s revenue through its decentralized autonomous organization (DAO) would constitute the network’s reserve. The network said the strategy was designed to increase revenue and token purchases.
“[I]t’s time to rewrite the market data economy on a global level,” said Pyth.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments