Pyth Network has announced it will allocate all of its Decentralized Autonomous Organization (DAO) revenue to the acquisition of PYTH tokens. This strategic shift coincides with the network’s annual recurring revenue reaching $11.5 million as of the end of September. Under this new model, revenue growth will be directly linked to increased token purchases.
New Revenue Strategy and Market Response
In an official statement from Pyth Network’s X account, this new strategy has been termed the “100% Rule.” According to the announcement, every dollar that the DAO receives will be used for monthly PYTH acquisitions, and currently, the PYTH reserve has amassed 42 million tokens. Following this announcement, the price of PYTH soared by more than 11%.
This novel approach replaces the previous practice where only one-third of the DAO’s treasury, outside of PYTH, was used for purchases each month. Now, the entire revenue share from Pyth products going to the DAO will be directed towards accumulating PYTH tokens. Notably, the 100% allocation applies to the DAO’s share of revenue rather than the network’s total gross revenue.
Funds received by the DAO in stablecoins will be exchanged for PYTH on the open market, while PYTH issued directly as payments will be added to the reserve. The first purchases under this model were executed on September 30, eliminating the need for individual monthly transfer approvals through voting processes.
Performance Metrics and Future Projections
According to Pyth’s official updates, the network’s data business witnessed annual recurring revenue surge from below $1 million at the end of 2025 to $11.5 million in September 2026. The organization emphasizes that as its products continue to generate more revenue, the DAO will acquire more PYTH tokens.
The latest monthly report indicated this key revenue metric grew by 10.6% in the past month. Concurrently, Pyth Terminal saw a 44.1% rise in active monthly users, reaching 129,265. The annualized revenue figure represents the ongoing revenue potential of current subscriptions, rather than the total receivables accumulated over a year.
The application of Pyth’s data spans a range of institutional use cases. As the official external distributor of Nasdaq Basic data, Pyth is mentioned in official applications by regulated platforms such as Kalshi and Coinbase. According to a recent update, approximately 95% of perpetual futures trading volume based on real-world assets (RWA) tracked is executed with Pyth data.
Pyth’s growth trajectory coincides with changes in the RWA market, where trading volumes have decreased even as open positions increase. The total volume across 22 monitored platforms fell by approximately 15% in September compared to August, settling at $637.85 billion. Meanwhile, the average daily open position grew by 12% to $11.71 billion, culminating in a record $12.61 billion open positions on September 30.
Among top traded assets, gold emerged as the most transacted, surpassing SanDisk with an average daily volume of $3.3 billion—a 24% jump from August. A significant spike was observed on September 16, when the Federal Reserve raised its target interest rate range to 3.75–4.00%, causing GOLD trading to surge by 102% from the previous day to $5.95 billion.
Binance, OKX, and Hyperliquid held their top positions among trading platforms. Variational ascended from seventh to fourth place, driven by new gold and Nasdaq-100 swaps, while Aster entered the top ten. The share of the first five platforms in total trading volume decreased from 95.2% to 86.9%.
From a regulatory perspective, the SEC assessed preparations for 24-hour trading in U.S. stocks on September 17 and issued a five-year conditional exemption for trading certain tokenized shares, excluding synthetic tokens that mimic stock prices. In September, Pyth provided price data for 90.29% of the total RWA tracked volume. When excluding swaps and focusing purely on perpetual futures, this coverage reached 94.7%.
