[CLOSED] OP-PIP 17: Withdraw from the PGAS treasury to cover Pythnet operational expenditures

Abtract

This proposal is meant to send PGAS from the DAO treasury to the Price Feed Council operational wallet to cover ongoing operational expenses of PGAS within Pythnet.

Rationale

PGAS is the native currency of Pythnet. PGAS has no market value. The PGAS treasury is managed by the Pythian Council as stated in the constitution.

Pythnet participants routinely spend PGAS when performing the following operations:

  • validating blocks (validators) (3500 PGAS/day)
  • publishing prices (market data providers) (5000 PGAS/day)
  • relaying governance messages from the councils onto Pythnet (2000 PGAS/day)

Description

We are proposing to transfer 4,000,000 PGAS tokens from the PGAS treasury to the Price Feed Council operational wallet (ACzP6RC98vcBk9oTeAwcH1o5HJvtBzU59b5nqdwc7Cxy) to cover PGAS expenditure for the next 380 days. This PGAS will be deposited in the Price Feed Council operational wallet for further redistribution by the PDA operational team.

Implementation plan

Proposal id: 5YYcWmLwo4JD5FSMYMyPPX2UHiw5Kwm2Bh7f1C9WzPZd

Verify the implementation following the steps below:

  1. Check toPubkey in the proposals website matches the Price Feed Council operational wallet from the constitution.
  2. Check the amount of PGAS in the proposals website checks the amount proposed in this document.