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The Orca Board of Directors proposed a plan for the acquisition of a large amount of ORCA tokens.
The Orca board of directors has proposed a plan for the acquisition of ORCA tokens worth 55,000 SOL and 400,000 USDC from the treasury, aiming to stabilize the price and increase the scarcity of the token. The program lasts for 24 months, with a daily acquisition limit set at 2% of the average trading volume, helping to reduce the impact on the market.
All assets allocated for staking and acquisition will be managed closely. Orca is also considering the possibility of burning tokens to control supply. During periods of high market volatility, acquisitions will be temporarily suspended to maintain stability.
The initial reaction from the community is relatively cautious, with discussions mainly taking place on governance forums. Currently, the founding team of ORCA has not made an official comment.