Orca proposal: Plans to buy back 55,000 SOL in ORCA and stake for 24 months execution plan announcement.

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On August 7, the Orca Council released a governance proposal to buy back up to 55,000 SOL and stake ORCA to the validation nodes. During the 5-day voting period and 2-day cooling-off period, ORCA token holders can submit a veto vote. Proposal details:

· Fund size: The total SOL and USDC in the treasury wallet is currently approximately 55,000 SOL and 400,000 USDC.

· Execution method: All SOL in the treasury wallet will first be staked at the Orca validation node, and then regularly withdrawn as needed to execute the Orca repurchase plan. This plan will be carried out on a decentralized exchange or in collaboration with market makers, lasting for 24 months, with a daily repurchase limit of 2% of the 30-day average trading volume of ORCA, in order to minimize market impact.

· Storage and Use of Repurchased Tokens: The repurchased ORCA tokens will be stored in a multi-signature DAO treasury wallet. The committee plans to either burn these tokens to permanently reduce the circulation of ORCA, allocate them to the xORCA pool as rewards, or use them for ecosystem funding.

· Risk management for the buyback plan: Buybacks will be suspended during periods of high market volatility (when ORCA price fluctuates more than 15% within 24 hours).

ORCA-3.26%
SOL-0.59%
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LiquidityHuntervip
· 7h ago
It's stable, time to go!
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PerennialLeekvip
· 08-07 00:39
White money, copied it.
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MemeTokenGeniusvip
· 08-07 00:38
Dancing the waltz with the conference again.
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SnapshotDayLaborervip
· 08-07 00:27
Fortunately, I bought some when I was doing manual labor.
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RektDetectivevip
· 08-07 00:19
It hits hard, SOL always comes up with these flashy moves.
View OriginalReply0
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