# \[FAILED\] OP-PIP-123: PYTH Token Phase 2 — Purchases #8

**URL:** <https://forum.pyth.network/t/failed-op-pip-123-pyth-token-phase-2-purchases-8/2631>\
**Category:** Proposals\
**Tags:** operational-pip\
**Created:** [July 4, 2026, 7:22am UTC](https://forum.pyth.network/t/failed-op-pip-123-pyth-token-phase-2-purchases-8/2631 "2026-07-04T07:22:12Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![KemarTiti](https://sea1.discourse-cdn.com/flex001/user_avatar/forum.pyth.network/kemartiti/32/5_2.png) [@KemarTiti](https://forum.pyth.network/u/KemarTiti)\
**Post date:** [July 4, 2026, 7:22am UTC](https://forum.pyth.network/t/failed-op-pip-123-pyth-token-phase-2-purchases-8/2631/1 "2026-07-04T07:22:12Z")

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### Abstract

Transfer one-third (1/3) of the current Pyth DAO Treasury to the Pythian Council (Ops Multisig) in order to execute the purchase of PYTH tokens as proposed and approved in OP-PIP-87.

Proposal: [OP-PIP-123: PYTH Token Phase 2 — Purchases #8 | Pyth Governance](https://v2.realms.today/dao/4ct8XU5tKbMNRphWy4rePsS9kBqPhDdvZoGpmprPaug4/proposal/D2veTJV9XRoJJNTReVekDUPndxtLrLkDJVq3kfeBnosA)

### Description

Following the distribution of revenues from Pyth Pro and LaaS for June 2026 by Douro Labs, (excluding PYTH) the Pyth DAO Treasury currently holds:

| Asset | Balance | USD Value |
| --- | --- | --- |
| SOL | 305.77 | $25,180 |
| USDC | 115,656.39 | $115,656 |
| Total (excl. PYTH) | | $140,836 |

_SOL/USD rate: $82.35_

This proposal aims to transfer 1/3 (33.33%) of DAO treasury to the Pythian Council (Ops Multisig), which was tasked by the Pyth DAO to administer and execute PYTH purchases per OP-PIP-87.

Therefore, the Pythian Council Ops Multisig (GAdn7TZhszf5KTfwNRx3A2nP6KCRFEWucZubgdEqbJA2) will receive:

| Asset | Amount | USD |
| --- | --- | --- |
| SOL | 101.92 | $8,393 |
| USDC | 38,552.13 | $38,552 |
| Total | | $46,945 |

Once the swaps are completed, the proceeds (PYTH tokens) will be sent back to the Pyth DAO Treasury.

### Implementation

The on-chain proposal will execute the following transfers from the Pyth DAO Treasury to the Pythian Council Ops Multisig:

• From: `9HKkxg5dpqjUEW1U2r76SpQCH7uvDMciytNYxrpwMVNc` (Pyth DAO Treasury)

• To: `GAdn7TZhszf5KTfwNRx3A2nP6KCRFEWucZubgdEqbJA2` (Pythian Council Ops Multisig)

| Transfer | Amount |
| --- | --- |
| SOL | 101.92 |
| USDC | 38,552.13 |

### Next Steps

1. DAO members vote on [OP-PIP-121](https://v2.realms.today/dao/4ct8XU5tKbMNRphWy4rePsS9kBqPhDdvZoGpmprPaug4/proposal/D2veTJV9XRoJJNTReVekDUPndxtLrLkDJVq3kfeBnosA)

If approved:

• The Pythian Council Ops Wallet receives the specified amounts

• The Pythian Council executes USDC/SOL → PYTH swaps as specified by OP-PIP-87

• Swapped PYTH tokens are sent back to the Pyth DAO Treasury

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<div class="post-metadata">

**Author:** ![KemarTiti](https://sea1.discourse-cdn.com/flex001/user_avatar/forum.pyth.network/kemartiti/32/5_2.png) [@KemarTiti](https://forum.pyth.network/u/KemarTiti)\
**Post date:** [July 15, 2026, 2:47pm UTC](https://forum.pyth.network/t/failed-op-pip-123-pyth-token-phase-2-purchases-8/2631/2 "2026-07-15T14:47:43Z")

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This proposal did not reach quorum due to a technical issue preventing a major staker from voting via Fireblocks/Realms integration and not due to lack of community support (99% YES votes).

I will resubmit this proposal later on with identical terms.