✅ #ORCA community approved plans to develop and deploy an xORCA pool, and 20% of future protocol fees received from Orca Whirlpools will be used to purchase ORCAs on the open market to be contributed to the emerging xORCA Pool.
Also approved a proposal to burn 25M of the ~40M ORCA remaining in the community treasury wallet and use 10M USDC from the treasury to buy back ORCA on the open market
* This article was originally published here