The State of Play
First 6 months. Highly successful period of growth and authority expansion within the Pyth Community. Each councilor has taken on a specific role, fulfilling niches within the community that bring about engagement and provide the community at large with a number of different content touchpoints.
These touchpoints and initiatives have all been designed to make the Pyth Community sticky, interesting at all times. These activities give community members looking to grow and participate in the network an opportunity to own it.
Community stats
Discord Engagement (Since Jan 1st to Aug 1st)
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~1800 Messages/Day
Active Users
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DAU ~192
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WAU ~651
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MAU ~1311
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Twitter & Pyth Portico
Post TGE Mindshare; +88%
Pyth Portico (42% Increase)
Jan 1st; 1300
Aug; 1850
First 6 month budget (Kaito, Impact Awards, Stipends & more)
Initiatives
Each of these initiatives strengthen the another. The council has spent the past 6 months planning and developing the content and technical capabilities to create a ‘community hub’. This community hub will live under the Pyth.Community domain (already owned). This hub is to be the one-stop-shop for onboarding new & existing community members displaying community contributions, events
Pyth.Community Hub
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*Pythentity (~80k Pyth total cost)
Forum Proposal; Pythentity Initiative Forum Post Draft - Google Docs
An identity based profile for Pyth community members. Created to document community activity, engagement and onchain adventures.
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Estimated cost of development;
2.5 weeks - developing a working product 1.5 week - cleanup and testing/feedback = 4 weeks completion
4 weeks full time work (4x40) = 160 dev hrs Dev hrly cost = $50USD Total development cost (160x50) = $8000 Pyth grant size (assume ~0.12c Pyth); 66k $PYTH GRANT SIZE
community timeframe to completion;
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3 months
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4-5 contributors
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14k $PYTH buffer requested to cover blowouts or unforeseen circumstances.
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Pyth Academy (~50k Pyth total cost)
Prototype; https://pythiansacademy.netlify.app/
A comprehensive knowledgebase for the Pyth community, covering Crypto basics, detailed Pyth fact sheets and key Pyth partner information.
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Estimated cost of development;
Undefined as of yet, pending further discussion in the community.
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PythMeets (2k $Pyth/Month)
Front end; https://pythmeet.com/
An IRL community-building initiative aimed at giving people the time and space to create their own communities within their own social circles. This initiative aims to cover the cost of coffee for a group, and allows them to engage with people in a more substantial, intimate manner.
This initiative aims to build up members’ ability to develop their own brands & social standing while also advancing the Pyth mission.
Discord
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DeFi & Markets Events
Jeetaliks DeFi Deep Dives - Exploring DeFi across chains. These deep dives aren’t necessarily related to Pyth. They are designed and hosted to educate the community on all different types of innovation and creative endeavors in the broad and ever expanding DeFi sector.
Market Quorum - Pyth’s DeFi & Trading community share their outlook for the coming week, discuss new trends in WEB3, follow relevant news, and engage in educational conversations spanning the entire web3 ecosystem.
Average number of attendees - 15
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Weekend Warriors Events
Weekend streaming events hosted by community leaders.
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Bingo Livestreams
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UFC viewing parties
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Socrates Bot
Designed to streamline community administration and onboarding. Socrates bot has a number of different features.
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Live Epoch timer
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Mission builder
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Twitter profile linking
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Price Feed calls
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NFT Statistics
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Community Grants Bot (~12k $pyth/month)
Administers the Pyth Community Grants economy within the community. Developed by the community.
Commands Documentation; https://www.notion.so/pyth-network/Impact-Awards-Discord-Bot-Commands-2382eecaaac980e3b1c6dfcf193b2149
Miscellaneous
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MegaPot Syndicate
A smart contract lottery sydicate built on top of MegaPot.io, using Pyth Entropy. This initiative allows the community to participate as a collective in the worlds largest onchain lottery. This is a first of its kind development that leverages Pyth partners, and the collective power & passion of Pyth community participants.
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Community Special-ops onboarding guide
Community Special ops run by Bats is an important component of Pyth’s Business Development strategy; finding and correcting incorrect data and oracle based information on the DeFi Llama dashboard when it relates to Pyth.
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Community BD; Pyth Entropy
A comprehensive community driven BD process. Aims to reward community members for onboarding NEW Pyth Entropy users across the EVM landscape. Also aims to make a business case for the deployment of Entropy to Solana and SVM operating environments.
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Short form video content (5k $pyth/month)
Funds the creation of 2 short form videos per month. Produced, edited and broadcast by the community - this content is developed for Reddit, TikTok, Youtube and Instagram; all content platforms that Pyth does not yet have a strong presence on.
This particular initiative has been started in order to grow and cultivate a group of Pythians dedicated to creation video content. We as a community aim to grow an army of content creators that receive $PYTH compensation for their TikTok, Youtube and Twitter reels and videos.
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Community twist on IA’s - Creation of PP’s
While still keeping the official name of IA’s we have successfully rebranded the community currency to be referred to as PP’s by the broader community. This has allowed the community more creativity when speaking about the discord currency program. Boosting X posting engagement and increasing the draw of the Pyth discord.
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SOL Arena Campaign
A total of 16,000 $PYTH was allocated to the week-long SolArena x Pyth x Pythenians Gaming event. The initiative aimed to promote the Pyth brand through a complete platform redesign to feature Pyth and Pythenians branding, coordinated announcements on Twitter and Discord, and live streams across both communities.
The full list of winners and distributed rewards can be found here: – https://docs.google.com/spreadsheets/d/173l75O-707vxkZWZl4XwSfVYOvaIK8tdJA-cdVqj6Ww/htmlview#gid=0
Remaining 6 months
Community council has done an incredible job of taking on the management and execution of the Pyth Community. Throughout the first 6 months of the council term, we have established management techniques, processes and safeguards for future council iterations and members.
Budget
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 second 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 1,470,000 PYTH tokens over a 6-month period (half of the 12 month term) to support various community initiatives and governance functions.
Budget Breakdown: https://docs.google.com/spreadsheets/d/16qLZDtyf57ES3v6qfSAjLs-Wu4XUTSu1V8kA3jlp_R8/edit?usp=sharing
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 (600,000 PYTH)
Significant reduction - not as effective as hoped, but still good for organic content. This should be focused instead on individuals who want to create content for Pyth independently. Therefore half of this allocation has been removed.
The largest budget allocation supports the Kaito program, which will run for 6 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.
Experiments Lab (480,000 PYTH)
A monthly allocation of 80,000 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. This has evolved significantly over from the first 6 months of the council term.
There are a number of different ideas proposed by the council and other community members that the council would like to fund in the final 6 months of the council term, including the community hub (Pyth.Community), Pythenity & more.
Expenses (60,000 PYTH)
Used to cover expenses council members incur when supporting community initiatives, events and proposals. Including but not limited to hosting, domain purchases and subscription services.
Role Stipends (120,000 PYTH)
This section funds three roles within the discord, essential to community operations:
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Chirons: Stipend with the cap of 750 per person, underachieved cap distributed as the bonuses to the best performing Chirons. (15 positions x max cap 750, totaling 67500 Pyth)
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Mensarius: Stipend with the cap of 350 per person, underachieved cap distributed as the bonuses to the best performing Mensarius’. (15 positions x max cap 350, totaling 31500 Pyth)
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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.
