Pyth DAO has approved proposal OP-PIP-136, sending 100% of the revenue share it receives from Pyth products into open-market purchases of PYTH. Pyth Network announced the decision on Oct. 8, and the governance forum lists the proposal as passed. Pyth also said the first purchases under the rule took place on Sept. 30.
Proposal replaces monthly voting process
Since December 2025, the DAO has maintained a PYTH Reserve funded through monthly purchases equal to one third of its non-PYTH treasury balance. Each purchase previously required its own vote.
OP-PIP-136 removes that month-by-month approval process and replaces it with a standing authorization. It also extends the policy to non-PYTH assets the DAO already holds.
Monthly purchases had been shrinking
The proposal’s author, posting under the name KemarTiti, listed monthly purchases at about 2.75 million PYTH in March, 1.80 million in June, 1.14 million in July, and 669,662 in August.
At the same time, Pyth said its overall annual recurring revenue reached $11.5 million in September, up 86% quarter over quarter.
What the 100% rule covers
The 100% figure applies to the DAO’s own share of revenue rather than gross revenue. Pyth said the DAO receives a 60% share of revenue from the products it owns.
The rule covers Pyth Pro subscriptions, Listing as a Service, the Data Marketplace, and Pyth Indices.
The proposal does not change any revenue split. The author had written earlier that Douro Labs keeps its contractual share.
How the conversions will work
Stablecoin revenue that reaches the DAO will be sent to the Pythian Council Ops Multisig, which converts it into PYTH under the existing limits: a 5% slippage cap, a $25,000 limit on each trade, and a preference for aggregators.
The proposal says the council may not sell, borrow against, or distribute the PYTH acquired under the policy.
It also states that direct payments made in PYTH are not described as open-market purchases.
Forum discussion addressed direct PYTH transfers
In a September discussion, a forum participant using the name scp asked whether PYTH paid directly by Douro Labs should count as a buyback.
A Douro Labs account replied that, for Pyth Pro-related distributions, Douro would continue transferring the DAO’s share in USDC each month, to be converted into PYTH on-chain.
Reserve size appears with two figures in Pyth’s post
Pyth’s post lists the Reserve at 41 million PYTH in one passage and 42 million PYTH in another.
Mike Cahill, CEO of Douro Labs and a core contributor to Pyth Network, said in the announcement that the DAO putting its entire share into the Reserve is the strongest alignment the network has had.