Orca Board issues governance proposal to repurchase ORCA with up to 55,000 SOLs

The Orca Council has issued a governance proposal to use up to 55,000 SOLs to repurchase ORCA and pledge it to a validator. During the 5-day voting period and the 2-day cooling-off period, ORCA token holders can submit a veto vote. Details of the proposal:
Capital size: All SOL and USDC in the treasury wallet are currently around 55,000 SOL and 400,000 USDC.
· Execution method: All SOL in the treasury wallet will first be pledged on the Orca verification node, and then regularly withdrawn as needed to execute the Orca repurchase program. The program will be carried out on a decentralized exchange or in partnership with a market maker for a period of 24 months, with a daily repurchase volume capped at 2% of ORCA's 30-day average trading volume to minimize market impact.
· Storage and use of repurchased tokens: The repurchased ORCA tokens will be stored in the multi-signature DAO treasury wallet. The committee plans to destroy these tokens to permanently reduce ORCA circulation, allocate them to the xORCA pool as a reward, or use them for ecosystem funding.
Risk management of the repurchase program: During periods of high market volatility (ORCA prices fluctuate by more than 15% in 24 hours), repurchases will be suspended.