Update: Express Relay Acquisition Withdrawn
Both CO-PIP-122 and CO-PIP-122.V2 failed to reach voting quorum, though notably, the votes that were cast showed strong support (majority YES).
However, circumstances have changed.
The third-party Solana protocol that had expressed interest in acquiring Express Relay has withdrawn from the transaction. Without a downstream buyer, Douro Labs no longer has a reason to acquire ER from the DAO.
What this means going forward:
As outlined in the original proposal, Express Relay remains a net cost to operate, generating less than $2,000/month while requiring ongoing infrastructure and engineering resources. This economic reality hasn’t changed.
Douro Labs proposes to wind down active support for Express Relay. The product will continue to function for existing users during a transition period, but we will not be investing further resources into its development or expansion.
Next steps: An Operational PIP (OP-PIP) will be submitted to formally ratify the sunsetting of Express Relay. This gives the DAO a clear vote on the path forward.
The Pyth DAO Constitution will remain unchanged. ER references stay in place, and the Pythian Council retains its delegated powers over the program. The DAO continues to own Express Relay; it simply enters maintenance mode. Should a buyer emerge in the future, we can revisit a sale via CO-PIP at that time.
We remain committed to focusing our resources on Pyth Pro, which continues to be the primary revenue driver for the ecosystem.