Orca Proposal Seeks to Redirect Protocol Fees and Dissolve Council
Orca community members published a tokenholder proposal on September 29 that would change protocol fee allocation to 10% for the xORCA pool, 10% for the team buyback account, and 80% for team operations. According to ChainCatcher, the proposal also seeks to move about 14.2 million ORCA from the community treasury and about 70,000 SOL from the fee treasury into team-controlled accounts, while dissolving the council and shifting to tokenholder-only governance.The proposal would replace the current allocation structure, which was previously 20% to xORCA, 30% to the fee treasury, and 50% to the team, and later adjusted to 40% / 10% / 50%. The team said it has negotiated to acquire a leading Solana DeFi protocol and expects the deal to increase total value locked by about 50%.The vote requires 3 million yes votes and will run for five days. The council can veto the proposal with four votes. Risks cited include greater concentration of control and lower xORCA yields, while the team said it will disclose buyback activity and strategic account deployment every six months.