Pyth Network launches PYTH token reserves and will conduct monthly token buybacks on the open market

Jinse Finance reported that Pyth Network has announced the launch of the PYTH token reserve. The operation of this strategic reserve involves using a portion of the network's monthly revenue to purchase PYTH tokens on the open market, thereby ensuring the predictability and scalability of transactions. Pyth Network further stated that it has already planned to systematically purchase PYTH on the open market using over $1 million in revenue generated by Pyth Pro in its first month. In addition, PYTH DAO will allocate one-third of its funds to purchase PYTH from the open market.