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Pyth Network Launches PYTH Reserve Mechanism to Buy Back Tokens Monthly

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PYTH
$0.05848-3.89%
Pyth Network, one of the altcoins to watch, has launched a PYTH Reserve mechanism to buy back tokens monthly using protocol revenue. Managed via the DAO treasury, one-third of funds will be used for open market purchases. The move aims to boost network activity and align product adoption with token value. With over $230 billion in cumulative trading volume, Pyth plans to grow revenue through Pyth Pro, Pyth Core, Entropy, and Express Relay. The firm estimates Pyth Pro could generate $500 million annually by capturing 1% of financial institutions’ $50 billion in market data spending.
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