Pyth reserve

[Tony_ru]

Hello everyone! Can someone explain why on the Defilama treasure page, the reserves in PYTH tokens have drastically decreased from 9 million to 5 million? Does it mean that the tokens were sold?

[scp]

Dear @Tony_ru

You can find the answer here in this proposal:

[PASSED] OP-PIP-101: Community Council Term 2 — Election Result & Budget Approval

Abstract This proposal implements two actions: Council membership update: Replace bats4 with SCP, following the Community Council Election #2 results Term 2 budget approval: Transfer 4,000,000 PYTH (first 6-month cycle) to the Community Council from the Pyth DAO Treasury Background Per the Term 1 Exit Report, bats4’s seat was up for election. SCP won the community vote and will join the Council for Term 2. The Term 2 Budget Request outlines an 8,000,000 PYTH budget over 12 months. This…

Quote “Term 2 budget approval: Transfer 4,000,000 PYTH (first 6-month cycle) to the Community Council from the Pyth DAO Treasury”. You can see the transaction here:

https://solscan.io/tx/CENPiFG96AJdDwoVRzTTmtqJ7ABQwbh76AJs8W6hByPvEqUoyAwT5hHLWLqyopLibDgmdVkNdVybf9icFnmZ9qd

From SCP

[Tony_ru]

Thanks a lot for the reply! Then the question is. What is the point of accumulating a reserve if it is then sold and poured into the market? This is endless pressure on the price of the token. Why can’t funds for community consul be allocated directly to the USDC from the Treasury? This will help to avoid additional sales.