The Orca Council has put forth a governance proposal to repurchase ORCA tokens using up to 55,000 SOL.

BlockBeats News, August 7th: The Orca Council has released a governance proposal, intending to utilize up to 55,000 SOL to repurchase ORCA and stake it to a validator node. During a 5-day voting period and 2-day deliberation period, ORCA token holders can submit veto votes. Proposal details:

· Fund Size: All SOL and USDC in the treasury wallet, currently approximately 55,000 SOL and 400,000 USDC.

· Execution Method: All SOL in the treasury wallet will first be staked to an Orca validator node, then periodically withdrawn as needed to execute the Orca buyback plan. This plan will be carried out on a decentralized exchange or in partnership with market makers, lasting for 24 months, with a daily buyback cap of 2% of the average ORCA trading volume over 30 days to minimize market impact.

· Storage and Use of Buyback Tokens: The repurchased ORCA tokens will be held in a multi-signature DAO treasury wallet. The committee plans to burn these tokens to permanently reduce the ORCA circulating supply, allocate them to the xORCA pool as rewards, or use them for ecosystem funding.

· Risk Management of the Buyback Plan: Buybacks will be paused during high market volatility periods (when the ORCA price has fluctuated more than 15% in the last 24 hours).