TechFlow, August 7 — ORCA DAO has released a new governance proposal to authorize the ORCA Governance Council to use treasury assets for a token buyback program and validator staking.
According to the proposal, the treasury currently holds 55,000 SOL and 400,000 USDC. If the vote passes, the council will have the authority to stake all or part of the treasury's SOL tokens to Orca validators and use SOL and USDC from the treasury to repurchase ORCA tokens on the open market over the next 24 months. The repurchased tokens will be used for burning, distributed as xORCA staking rewards, or allocated as ecosystem grants.
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