Community Council Budget Proposal v2

Ideas Bank
1

Based on discussions with community members and candidates to the Community Council, I propose below a revised version of the budget that I would like the Pyth DAO to consider for the first half of the 12 month term of the inaugural Community Council.

Community Council Budget Explainer

The proposed Community Council budget is requesting an allocation of 1,420,000 PYTH tokens over a 6-month period (half of the 12 month term) to support various community initiatives and governance functions. This vote (if successful) guarantees an additional budget extension proposal at 6 months to finish the full council tenure.

Budget Breakdown:

Impact Awards (210,000 PYTH)

A monthly allocation of 35,000 Pyth to recognize and reward outstanding community contributions. These awards are intended as community micro-grants, provide rewards for games and events, enable discretionary fun initiatives, and empower cross-community collaboration efforts.

Kaito (1,000,000 PYTH)

The largest budget allocation supports the Kaito program, which will run for 12 months with detailed reward breakdowns available. This initiative focuses on building Twitter mindshare and incentivizing quality content creation to expand the project’s reach and visibility. Further details are provided here. This request covers the first 6 months of the Kaito program.

Experiments Lab (90,000 PYTH)

A monthly allocation of 15,000 Pyth reserved for experimental initiatives and just-in-time opportunities. This flexible funding allows the Council to respond to emerging needs and test innovative ideas without requiring additional budget approvals.

Role Stipends (120,000 PYTH)

This section funds three roles within the discord, essential to community operations:

  • Chirons: 15 positions at 750 Pyth per month, totaling 67,500 Pyth every 6 months.
  • Mensarius: 15 positions at 350 Pyth per month, totaling 31,500 Pyth every 6 months.
  • Other Roles: 10 positions at 350 Pyth per month, totaling 21,000 Pyth every 6 months.

These stipends ensure dedicated community members can commit time to community responsibilities across Pyth social channels consistently throughout the year. Not all of these positions are filled - there is room to expand or contract as need be.

Community Council Member Incentives

In addition to the budget above to be managed by the Community Council through the multisig wallet assigned to it, I suggest to the Pyth DAO to consider incentivizing the Council Members at the end of each term with 120,000 PYTH per member per term (12 months). Such incentive should be paid bi-annually.

End of term

At the conclusion of the 12 months council term, a report will be written on all activities undertaken by the DAO, with funds being accounted for. All unused funds will be returned to the DAO.

9 Likes
2

Thank you for considering the community voice for the revision of the community council budget proposal

I agree with the current budget proposal

  • I think having 6 months coverage of the proposal is a good timeframe and council can adjust mid-term depending on the result/actual situation.

  • Impact Awards
    I would like to also note that 35,000 Pyth a month is about 50% more of the current Impact Awards distribution. I believe that the community we have built post TGE are definitely strong and deserves to be rewarded

    Current Impact Awards Distribution
    Current Impact Awards Distribution1494×816 58.2 KB

  • Kaito
    We have Pythians who are vocal of their support to Pyth Network and were rewarded as well via Impact awards, but i think using Kaito can greatly improve the efficiency of rewarding community members effort.
    Although, I would love to hear a short overview of how the leaderboard are computed and i hope the council can also monitor this data. It seems it is also possible to fine-tune the algo for each community based on this tweet from Yu Hu

5 Likes
3

I support this proposal as I believe an empowered Community Council is positive to the growth of Pyth. lfg

6 Likes
4

I fully support the proposed budget

IA budget is sizeable and ready to reward active Discord participants.

Kaito budget will increase engagement with external influence furthermore strengthening the Pyth brand.

Bullish on Experiments lab which allows flexibility and allows Pythians to express themselves in unique ways not yet thought of. By having the ability to reward creativity we remove constraints of regiment.

Excited to see how the community is rewarded for contributing to the network and taking part myself.

2 Likes
5

All budget above is very well balanced imo.
There is all sectors covered, as internal and external.

Kaito having the most budget allocated is the right thing as well to boost BD development to new highs, as clearly the platform is very efficient in project promotions, both pre-TGE and post-TGE.

All community future efforts are included for incentivization as well.

And Experiment Labs is considered.

I guess all seems fair!

2 Likes
6

Very excited to be bringing this budget forward to kick off the Community Council.

I think it provides us with a significant amount of flexibility and a great opportunity to experiment and continue to innovate with community incentive structures.

2 Likes
7

Thanks for the breakdown of the budget! Seems very well put.

I like the idea of Kaito budgeting - this will definitely bring more visibility to PYTH and will help onboard new Pythians to Discord which is a much more worked through and established place to earn even more awards. Speaking of which - yes, I agree with Discord budget, this is very reasonable.

Including Experiment Labs in the budget is exciting - keen to see how talented Pythians are and recognizing their efforts even more is an excellent idea.

Overall, I agree and support the proposed budget.

3 Likes
8

I fully support all ideas put forward in this budget.

As @bats4 pointed out, the 50% increase in IA’s for the next cycle will ensure appropriate rewards for the active community members and allows for what I anticipate will be an influx of new members thanks to the addition of the Kaito leaderboard and rewards and the exposure that comes with it.

Allowance for Expirements Lab is a great idea and will help streamline anything that pops up along the way.

All bases look to be covered and excited to see it all take shape.

2 Likes
9

Nicely balanced with sufficient flexibility. Thanks for all the effort that has gone into the proposal.

I fully support it.

3 Likes
10

Weldone on this proposal…

I fully support the proposed budget

This budget will helps alot.

But @Chop I request access to Kaito budget sheet for review too.. will be happy to check it out.

1 Like
11

My proposition to enhance the Experiments Lab (90,000 PYTH) idea :

  • Round 1 : Create a private discord channel where members can present their idea.
    • Each week council members can shortly vote to chosse a project idea
    • At the end of the dead line, members can present the realisation and get PYTH token as reward.

We can name this Pyth’s Shark Tank.

5 Likes
12

I would suggest Kaito budget being reduced. And shifting it to Experiments and grants.

I think if we build awsome side projects, than Yapping will happen regardless of being rewarded by the Pyth DAO. In addition Kaito will reward all yappers.

13

Can we call the channel Pitch Pyth? I think we can have this channel created even without using much of the funds in the budget?

1 Like