Guide for the 5th Price Feed Council Election

Price Feed Council
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1. What is the Price Feed Council?

As defined in the adopted Pyth DAO Constitution, the Price Feed Council is made of 7 members who are signers of the Price Feed Multisig Wallet. The Price Feed Multisig Wallet has powers to perform actions that are delegated to it by the Pyth DAO.

The Operational PIPs delegated to the Price Feed Council involve:

  • The management of the list of price feeds available through Pyth

  • The selection of publishers and the setting of the minimum number of such publishers per price feed

The execution of such actions by the Price Feed Council requires 5-of-8 approval (with one of the default multisig holders being the Operations Wallet itself).

The first-ever Price Feed Council was elected in March 2024. Subsequent elections have been held every 6 months:

2. The 5th Price Feed Council

According to the Pyth DAO constitution, the 4 members (out of 7) to remain in the next Price Feed Council are selected given the following cascading criteria (the Election Criteria):

  • The shorter tenure until the date of the election;

  • In the case of equal tenure, the member with the higher amount of votes in the last election;

  • In the case of equal tenure and equal amounts of votes, the member with the higher count of multisig participations

It is important to note that any Council member who has voted less than 1/3 of the proposals during the term will be excluded from automatic re-election.

You can find the table recapping all the Price Feed proposals here.

Current Council #4 Members

Member Organization Tenures Participation Status
Harnaik Kalirai Douro Labs 4 91.3% :ballot_box_with_ballot: Up for election
Nicholas Diakomihalis Douro Labs 4 85.7% :ballot_box_with_ballot: Up for election
Nicolas Genechesi XBTO 3 25.2% :ballot_box_with_ballot: Up for election*
Mario Bernardi Pyth Data Association 2 88.3% :white_check_mark: Auto re-elected
Riccardo Reyes Pyth Network Chiron 1 73.5% :white_check_mark: Auto re-elected
Anas Khader Flash Trade 1 13.5% :ballot_box_with_ballot: Up for election*
Matt Gov Ethereal 1 6.1% :ballot_box_with_ballot: Up for election*

*Nicolas Genechesi, Anas Khader, and Matt Gov fell below the 33% participation threshold required by the constitution and are therefore excluded from automatic re-election.

Re-election Summary

The 4 members with shortest tenure would normally be automatically re-elected: Riccardo, Anas, Matt Gov (all 1 term), and Mario (2 terms). However,

Anas and Matt Gov failed to meet the 33% participation threshold and are therefore excluded.

Additionally, Nicolas Genechesi (3 terms, up for election due to tenure) also fell below the 33% threshold.

This leaves only 2 members automatically re-elected: Mario Bernardi and Riccardo Reyes.

Therefore, the 5th Price Feed Council Election must elect 5 new council members.

They will join Mario Bernardi and Riccardo Reyes.

3. Call for Candidates

We encourage all qualified community members to consider running for the Price Feed Council.

With 5 seats open this election, there is significant opportunity for new voices in price feed governance. A healthy election benefits from a competitive field — it gives PYTH stakers meaningful choices and strengthens the legitimacy of the elected council.

Who should apply?

  • Active contributors to the Pyth ecosystem

  • Individuals with experience in data quality, price feeds, or financial markets

  • Representatives of protocols, publishers, or companies that work with Pyth data

  • Anyone committed to maintaining the integrity and expansion of Pyth’s price feeds

If you’ve been involved with Pyth — as a publisher, integrator, data provider, or in any other capacity — and want to help shape its price feed governance, we want to hear from you.

4. How to Submit Your Candidacy

Election of the Pyth DAO councils is a two step process:

  1. One nominates himself/herself on the Pyth forum by creating a new topic under the Price Feed Council segment— nomination must follow the template below:

    1. Candidacy Template

    Topic Title: [Price Feed Council Election #5], Candidate name, Protocol/Team/Company

    Required Information:

    • Wallet address (SPL/Solana):

    • Describe how you will custody your private key (hardware wallet, MPC provider such as Fireblocks, etc):

    • Name of Candidate • Full Name:

    • Twitter handle:

    • Discord handle:

    • Github handle:

    • Current Role / Ecosystem

      • Title:

      • Company name (if applicable) or Protocol:

    • Main Location • Continent:

    • Motivations to participate in the Price Feed Council:

      • • … • … • …

    • Relevant Experience:

      • • … • … • …

    This first step must be done by Sunday, May 24, 2026.

  2. On Monday, May 25, 2026, a multi-choice proposal will be created on Realms where all nominees will be listed. The voting will last for one full week until Sunday, June 1, 2026.

5. What is the Timeline for the Council Formation?

Phase Dates
Forum Nomination Tuesday, May 12 until Sunday, May 24
Onchain Voting Monday, May 25 until Sunday, June 1
Council Approval Wednesday, June 3, PYTH stakers will approve the elected Price Feed Council and budget

6. Stipend

Each elected council member will receive a stipend of 45,000 PYTH for their 6-month term.

References