This is a proposal from @gnarleyquinn and i am posting in his behalf
Hi guys,
I’d like to make a proposal regarding token burns and earnings.
Essentially, the idea is this:
Take a small percentage of the fees earned each month to buy the PYTH token on the open market, then burn the allocation.
I’m open to suggestions about modifying the amounts etc, but here is an idea to get things started.
Part 1:
4% of existing earnings from the past six months to be used to buy the token on open market.
( 1% each week during the month of August).
Part 2:
At the end of each month starting in September, 2% of the fees earned for that month are used to buy on the open market.
In both cases, the transaction details and burns are published to the community to be verified.
Primary justification for the proposal:
~ Create a constant buying pressure for PYTH token each month
~ Establish a direct correlation between earnings and PYTH token price
~ Percentage means the amount of PYTH burnt will fluctuate with market conditions