Congrats to @OrderlyNetwork for the successful passage of the OIP-1 proposal with 98% approval on September 1st! This proposal marks a major shift for Orderly holders and builders, as it changes the previous mechanism where protocol revenue was distributed as USDC staking rewards. The [OIP-1] proposal aims to allocate up to 60% of the protocol's net revenue for periodic buybacks of ORDER. Of the buyback, 50% will be distributed to stakers in the form of esORDER (with a three-month linear unlock), while the remaining 50% will go to the community governance wallet! The future use of the treasury's ORDER could include burning, providing liquidity, trading incentive rewards, and more... (all subject to voting by ORDER stakers). Previously, stakers could withdraw their USDC rewards at any time! This brings us to one of Orderly Network's unique reward mechanisms: The VALOR mechanism. This proposal essentially updates the VALOR mechanism. While the structure and individual withdrawal rights of VALOR remain unchanged, the reward format has shifted from USDC to esORDER. This update also lays the foundation for a deflationary mechanism. If stakers unlock their esORDER early within the three-month period, 50% of the locked rewards will be burned. Withdrawing USDC simultaneously burns old VALOR, helping reduce the total VALOR supply and accelerating deflation! The @OrderlyCN_ team is incredibly generous—allocating 60% of protocol revenue for ORDER buybacks while continuing the monthly 10% fee reward for KAITO yapper top 25. This month, they even lowered the threshold from 25 to 50 participants! Despite the increased number of spots, the growing protocol revenue ensures that the original rewards remain unaffected, encouraging more people to join and incentivizing more builders! This buyback plan is reminiscent of the Home buyback plan by @defidotapp—great minds think alike!