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Orderly Community Proposes Using Up to 60% of Protocol Net Income for ORDER Buyback
Summary: In a recent development, the Orderly community has put forth a new proposal to allocate up to 60% of protocol net fees for regular buybacks of ORDER tokens, while simultaneously optimizing staking and VALOR mechanisms. According to the proposal, the buybacks will be executed through TWAP based on the income from the previous two weeks, ...
In a recent development, the Orderly community has put forth a new proposal to allocate up to 60% of protocol net fees for regular buybacks of ORDER tokens, while simultaneously optimizing staking and VALOR mechanisms.
According to the proposal, the buybacks will be executed through TWAP based on the income from the previous two weeks, with half of the purchased ORDER tokens distributed to stakers (in the form of esORDER released linearly over 3 months) and the other half going into the community governance wallet for purposes such as burning, liquidity, incentives, etc., to be decided through separate governance voting.
The proposal also includes the discontinuation of USDC staking rewards, allowing stakers to directly claim existing USDC reserves; VALOR will be linked to esORDER rewards, and existing holders will seamlessly transition to the new system proportionally. The voting period is 7 days, with a quorum of 30% of total voting power required, and only ORDER staked before the proposal submission can participate in the voting process.
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Link: Orderly Community Proposes Using Up to 60% of Protocol Net Income for ORDER Buyback [Copy]
