Orca DAO proposes acquisition and treasury overhaul as ORCA token surges 84%

Orca’s DAO has proposed acquiring an undisclosed Solana DeFi protocol and restructuring how the decentralized exchange manages fees, treasury assets, and governance. The plan has attracted community pushback, even as ORCA surged 84% after the proposal circulated, according to SolanaFloor.

Acquisition and fee-flow plan

The proposal, titled “Resourcing Orca for Its Next Phase,” was posted on September 29, 2026, after Orca’s Governance Council endorsed it unanimously on September 24. Voting is scheduled to close on October 10, 2026.

The proposed acquisition would add credit and yield products to Orca’s existing Solana DeFi offering. The target protocol has not been identified, but the proposal describes it as a leading Solana DeFi protocol and estimates that the transaction could increase Orca’s total value locked by approximately 50%.

The plan would also change the distribution of protocol fees:

• 10% would be allocated to xORCA staking rewards.
• 10% would fund buybacks managed by the Orca team.
• The remaining 80% would be directed to operations.

For xORCA holders, the change would mean a smaller direct share of fee revenue in exchange for a strategy focused on deploying capital to expand Orca’s products and scale its business.

Treasury control and governance concerns

Under the proposal, approximately 14.2 million ORCA tokens, or about 19.8% of total supply, would be removed from the community treasury. Roughly 70,000 SOL would move alongside them into a new Strategic Account controlled by the team and restricted to acquisition-related use.

The proposal also calls for dissolving the current Governance Council, the same body that approved the initiative. Critics argue that the combination of a team-controlled account and the council’s removal would shift decision-making power away from token holders.

Supporters have pointed to safeguards against excessive token issuance, which are intended to limit dilution from new minting. Those protections do not directly address concerns about how existing treasury assets would be spent or how team-managed buybacks would be governed.

What This Means

The market reaction indicates that traders are pricing in potential growth from the acquisition, new credit and yield products, and the projected TVL expansion. Separate tracking cited in the report placed ORCA’s weekly gain above 80%, with recent trading between approximately $2.90 and $3.15.

The proposal nevertheless presents holders with a clear trade-off: lower staking rewards and less direct community control today in exchange for a team-led growth bet tomorrow. The key catalysts are the October 10 vote, the identity of the acquisition target, delivery of the proposed products, and whether Orca’s TVL approaches the projected 50% increase.