ORCA Jumps 84% as DAO Weighs Acquisition of Leading Solana DeFi Protocol
- —80% of protocol fees would be retained by Orca, 10% used to buy ORCA for xORCA holders, 10% routed to a team-controlled wallet
- —14.2M ORCA ($40.4M) held in the community treasury would move to a team account for acquisitions
- —xORCA holders are barred from voting, and unstaking carries a 7-day cooldown
- —Approval requires only 3M 'Yes' votes, so the proposal passes even if a majority votes 'No'
Why it matters: The deal would push Orca into credit and yield products, but shifting the treasury to team control and excluding xORCA holders from voting raises sell-pressure and governance risks for ORCA.
Source: SolanaFloor