Increase the Pythian Council stipend

Ideas Bank
1

The DAO’s current stipend is 12,500 PYTH per member for a six-month term. I propose 45,000 PYTH per member for the sixth term, matching the rate previously approved for the Price Feed Council. If all eight members qualify, the six-month budget would be 360,000 PYTH.

The original budget assumed about 25 hours of work per Pythian Council member over six months. The role now includes recurring purchases through the Council Ops wallet, returning purchased PYTH to the DAO and reporting those transactions, alongside cross-chain fee repatriation and protocol votes. All of which have taken much more time than anticipated.

This increase would apply only to the sixth term and beyond. The fifth term remains at its approved rate.

Payment would remain subject to the existing participation condition and end-of-term review. If there is support, the DAO could consider the new rate with its sixth-Council approval vote.

Disclosure: I currently serve on the Council and could benefit if I serve another term.

I welcome feedback on the amount and any other ideas that may fit / be better.

3 Likes
2

I support increasing the Pythian Council stipend to 45,000 PYTH per eligible member for the sixth term. I’ve served for two terms, and the workload has grown beyond the roughly 25 hours per mandate assumed in the original budget, especially with the recurring reserve operations introduced under OP-PIP-136.

The original stipend assessment was made when PYTH was worth roughly three to four times its current value. Since the stipend is denominated in PYTH, its value in dollar terms has fallen substantially even as the Council’s responsibilities have increased.

The adjustment also fits within the councils’ previously approved combined stipend envelope: up to 100,000 PYTH for the Pythian Council and 315,000 PYTH for the seven-member Price Feed Council. Since CO-PIP-139 retired the Price Feed Council, a maximum of 360,000 PYTH for the Pythian Council would remain 55,000 PYTH below that combined amount.

I support retaining the existing participation requirements and end-of-term review. As a current member who could benefit from another term, I believe the proposal should be assessed transparently under those same rules.

2 Likes
3

hi kemartiti where can i read about the pythian council and the roles ?

4

Thank you so much kemartiti , I totally agree with this proposal and my point is the same as frozen mind

thank you so much~

5

我不同意，回购的代币干脆都给你们好了。现在又加预算，要是代币价格上涨，你们会退还DaO吗？理事会成员自己花钱购买pyth代币？

6

Agree with this proposal, and would support a review of stipend suitability of all council types at each election cycle. An increase in stipend may also motivate members to sign a higher percentage of transactions in a quicker fashion. The number of positions up for re-election may indicate a lack of incentive.

Since the Price Feed Council has been dissolved, this results in reduced net liabilities, as mentioned by Frozenmind

1 Like
7

You can refer to the constitution for more details - governance/docs/constitution/pyth-dao-constitution.md at main · pyth-network/governance · GitHub

1 Like