Orca Council Proposal: Plans to repurchase ORCA with up to 55,000 SOL and pledge it

According to Odaily, the Orca Council has released a governance proposal to use up to 55,000 SOL to repurchase ORCA and stake it on its validator nodes. ORCA token holders can submit veto votes during a five-day voting period and a two-day cooling-off period.

The main contents of the proposal include:

Funding size: Approximately 55,000 SOL and 400,000 USDC in the treasury;

Implementation method: All SOL will be staked on the Orca validation node first, and then regularly withdrawn for ORCA repurchase; the program will be carried out on DEX or through market makers for 24 months, with a daily repurchase limit of 2% of ORCA's 30-day average trading volume;

Token processing: ORCA obtained from the repurchase will be deposited into the DAO multi-signature wallet and may be used for destruction, xORCA pool rewards or ecological funding;

Risk Management: If the ORCA price fluctuates by more than 15% within 24 hours, the repurchase program will be suspended.