Pyth Network’s decentralized governance organization, Pyth DAO, has approved OP-PIP-136, a proposal that redirects 100% of DAO revenue from Pyth products into open-market PYTH buybacks. The change replaces a previous system under OP-PIP-87, which required monthly votes to move one-third of non-PYTH treasury assets into token purchases.
The new standing approval means DAO revenue from Pyth Pro subscriptions, Listing as a Service, the Data Marketplace, and Pyth Indices can now flow directly into the PYTH Reserve. According to Pyth Network’s announcement on October 8, DAO contributor KemarTiti filed the proposal, and it passed on September 24. As part of the first execution, the DAO moved 323,428 USDC and 90 SOL to the Pythian Council’s execution multisig. The council still cannot sell, borrow against, or transfer the PYTH without a separate DAO vote.
The old policy had become increasingly disconnected from network revenue growth. Data cited in the proposal showed monthly buybacks fell from about 2.75 million PYTH in March 2026 to about 669,662 PYTH in August. Meanwhile, Pyth reported $11.5 million in annual recurring revenue in September 2026, up 86% quarter-over-quarter, with Pyth Indices adding $1.81 million in fixed ARR.
Pyth said more than 94% of tracked real-world asset perpetual volume over the previous three months used Pyth data. Kalshi named Pyth as the only price source for its CFTC-cleared gold and silver perpetual futures, and Coinbase cited Pyth in an SEC filing for single-name equity perpetual futures. Mike Cahill, CEO of Douro Labs and a core Pyth contributor, called the DAO’s revenue commitment the strongest alignment this network has had.
However, Allium’s head of research Elton Shehdula warned that buybacks do not guarantee price gains, even though they reduce supply and add demand. Allium Labs data shows crypto projects spent a record $638 million buying back their own tokens in 2026.
