Is there anyone who has invested their own money in this coin and made a profit? No one. This coin has been continuously falling since its listing. It went from a price of over 1,000 won to 60 won today. Can this coin still be said to genuinely care about investors? They are only doing good for the reward participants. How many investors actually invested with the intention of staking? Many individual investors came in because of their vision and issues regarding collaboration with the Department of Commerce.
You bought this coin just to stake it? If that were the case, they would have bought other coins with better returns and stability. They aren’t philanthropists; would they have bought this unstable coin? Most of the people who staked it are doing so out of necessity as the price kept falling.
Looking at it objectively, honestly, along with the failure of their distribution structure, they do not reflect the opinions of individual investors. If you look at X, most reward participants simply praise their posts, while individual investors only complain. The Python team must communicate constantly with investors. Without communication, regression is inevitable.
The funds that have allowed them to operate until now have originated from investments by individual investors. Despite the immense selling pressure caused by monthly rewards, they are still spending money for the reward participants. Please realize who you should be thinking of first. Next month, an additional 20% of the total supply will be released. Can this coin survive under such a structure? I say it again: even if the price rises three or four times from 1 won, it is of no use. Devise a plan to defend the price. Currently, all investors are exhausted.
I am an investor. And I am not exhausted. Please do not pretend to speak on my behalf.
I have seen your created threads here and have avoided responding until now because I can see that your price-time horizon is short. This is fine, we all have different outlooks.
I do not think the Pyth Network can actually functionally operate without unlocks. I have recently replied to someone that shares your concerns, so please allow me to post here too:
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As far as I understand it, at the next unlock we will:
Unlock a portion of Publisher rewards: which are vital, obviously to continue to pay our 1st party sources.
Unlock a portion of Protocol Development which for contributors (likely Douro et. al.). Unlikely that Douro would keep the wheels turning if we did not pay them
Unlock a portion of Ecosystem Growth for Devs, Early publsihers, and Community Grants (Pyth Playground, PythWheel, Pythentity, etc.). Likely the only easy portion of funds to freeze. But community growth freezes and likely retraces.
Unlock a portion of Private Sales. Unlikely to be possible due to contractual agreements from the beginning.
If we stop Private sales unlocks, we have legal trouble
If we stop Ecosystem Growth, we likely retard the ability to scale the Pyth Network easily, and all the community, research, and development stagnates or disappears
I may be missing something, but I don’t really see a compelling case for a lack of unlock, or even a delay. What I see is a need to maximise revenue streams as quickly as possible so we can keep paying Douro and our publishers in the longest possible timeline.
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If you are focused on short (and long) term token price, I suggest you also get involved in Pyth token phase 3 discussion
Which seeks to end OIS rewards. This will reduce emissions and likely support short term price. Also, and perhaps more importantly, it will increase the chances of profit sustainability for the longer term success of the project. Further discussions about the actual use of these reserve tokens may become relevant also. Currently they buyback PYTH from the open market and take it off the circulating supply in the Reserve wallet.
There are plenty of ways to achieve what you want (price appreciation). Unfortunately, focusing on necessary unlocks (which were baked-in and fully transparent before TGE) I do not think is the path to achieving this. Ultimately, it may be a race to the bottom of the project collapses due to its inability to pay the various first-party data sources that make us the best damn price layer that has ever existed.
I thank you for your honesty, but encourage you to see the multitude of options you have before you. Instead of insisting that your particular method of goal attainment is the only path forward.
In the open market, value is proven by price. Investors have waited for over two years since Pythnetwork was issued. Most investors invest based on who they collaborate with and what their vision and positive news are. They do not check things like what rewards they provide to participants. While I cannot know your average purchase amount, I consider the current situation—where the price has dropped from over to 0.8$ — 0.04$ to be quite serious.
Furthermore, although they collaborated with the Department of Commerce, they distributed a false image labeled with a presidential letter. If you search for “Pyth” on Naver, Korea’s largest portal site, related news still appears at the very top. By spreading this false image with the presidential letter, the price suffered another crash. They have not offered a single apology since then.
Additionally, in the Kakao Pythnetwork chat room I participate in, which has over 300 members, there is currently not a single person who is positive about this coin. The Telegram Korea community is also flooded with only critical comments. Moreover, the community administrator is not managing the site. Whenever price-related discussions arise on the official Pyth network Telegram, they direct users to a separate room for members only. How can we communicate with them? They have been ignoring even these small details until now.
Everyone in my group is suffering losses; We have a wide spectrum of investors, ranging from early investors to those who joined during the Commerce Department issue. Among them, there are many who have invested over $100,000However, due to the continued decline, the current price is disastrous. Drops of over 70% to 90% are commonplace. It is practically impossible to sell. Are you aware of this reality?Will they be able to exchange their coins for Python coins valued at their current value on an exchange and stake them? They have no choice but to wait. they don’t know how to leave a post here, and they simply don’t write because it is too much of a hassle. Ask a professional investor. Look at the current chart and ask them what they think about this coin. I will say it again: price proves value.
Fundamentally, the Python Network coin must be utilized in diverse ways, not just as money handed out to participants for rewards. Their distribution structure is a complete failure. There are no buyers, and those who participated for the rewards are continuously selling off their funds. Losses for existing investors are accumulating. A vicious cycle is repeating itself. However, an additional 20% of the total supply will be released in May. Are you still optimistic?
The biggest problem currently is that outflows exceed inflows. Under these circumstances, the price is bound to fall. Although Python is distributed to participants as a reward every month, most of it is cashed out (sold). This outflow exceeds the amount repurchased through Python Pro. Furthermore, the fact that 20% of the total supply will enter the market in May is indeed a major negative factor. This structure is a typical downward trend driven by increasing circulation; even if a rebound occurs, the highs continue to drop. In other words, the coin’s structure, not the project itself, is hindering price increases. Due to a lack of trading volume, the price continues to decline. It is a structure designed to dilute the price. Objectively speaking, while the Python project itself—an infrastructure coin—may succeed, if it remains a coin usable only for voting and staking rather than for other applications, it could move in the exact opposite direction of its price, rendering its very existence meaningless. The structure operates entirely through internal ecosystem activities. These are neither mandatory fee payment tokens nor compulsory means required for service usage. In other words, there is no reason to purchase these coins from the outside. Moreover, unless there is currently enough hype to surpass the large oracle institution like Chainlink, it will take a considerable amount of time for the price to recover. Without investor interest, the price could drop to a point where recovery is impossible. We will likely experience the same phenomenon next May when 20% of the supply is released, and I wonder what the price will be then. The total issuance volume is large, and there is still plenty to be released. However, there is no demand.
I don’t know if you took the time to actually read my response. What I am saying is that there are many ways to obtain what you seek. I am quite sure that this response will also be ignored, but I hope you prove me wrong…
You are likely well aware, but we are currently in a bear market. The current Total Market capitalization of Altcoins is down more than 48% from ATH. And mind you, this figure includes the an increasing Total market cap of stable coins for the same period!!! Which is why most coins are down significantly more than 50%. Professional investors understand that market cycles exist, and currently, ALL of crypto is in a long term downward trend. These are typical market cycles and professionals are not surprised by this.
My apologies, but saying “price proves value” is provably a false statement. Think back to the 1990s “dot com” bubble bursting. Think back to 2008 with sub-prime mortgages in the US causing the global financial crisis. Records as far back as 1637 with the Tulip mania bubble of the Netherlands. Crises like these are proof that relying on “price proves value” are a dangerous game to play. And ultimately, one which should be avoided. What truly matters in the long term is productivity.
If you believe Pyth Network to actually be a productive force for long term good, you should participate in actionable governance discussions and use your tokens for their intended purpose: (hint: PYTH tokens are currently for governance and publisher integrity ONLY). “Price isn’t where I expect it to be” is a personal issue. This is the personal issue currently faced by the entire cryptocurrency market. I include myself in that statement.
I already responded to the necessary unlock above. I wish you would take the time to read it. I really do hope you can justify why an unlock is not necessary. It would be music to my ears ).
As for “Are you still optimistic”? Hell yes I’m optimistic. You do realize that Pyth provides the ONLY price feed in the world for 24/7 oil index? Partnerships with Polymarket, and Hyperliquid are only strengthening over time. Pyth is actually building the infrastructure necessary to bring everything on chain and it’s happening in real time. Are you not super f***ing bullish about this? This is literally what Pyth has been advertising the whole time. The price of everything, everywhere. I have never been as optimistic as I am right now. Especially as oil markets are the hottest global financial topic RN. Pyth is front and center, providing the infrastructure that works flawlessly.
Now while I am definitely empathetic to your current situation, I again have a much longer time horizon than you do. So while you may see short term unrealized losses, there are also current opportunities to reduce average total purchase prices (not financial advice, of course).
If you had read my post above, I already addressed this. I have also pointed you in the direction of a thread which is looking to make changes to reduce outflows (by stopping OIS emissions). If you take a look at the thread, it includes a table which demonstrates…
Taking actionable steps (like removing OIS emissions) is one way to achieve what you want. So why are you ignoring this? You have PYTH tokens, you can create a DAO proposal yourself and vote accordingly. You could also support this thread and get it across the line.
Preventing token unlocks will likely kill the project due to my justifications earlier
Stopping OIS emissions will reduce inflation
Taking on-chain voting actions will affect real change. I implore you use your tokens for their intended purpose. Look to what Pyth is building, and how that may affect things in the longer term. If you’ve been around in the crypto game for more than 1 cycle, you will know that this current situation is not forever. Bull markets follow Bear markets, and we will see the sun shine before too long.
I wish you peace a prosperity, and hope you take the time to research my response. As a fellow PYTH holder (although I do stake mine in governance and OIS), I do wish you all the best success in whatever form that takes. Of course there is a financial aspect to this, and I understand that emotions may be high at this time. I cannot control your emotions, or the entire market. But I do hope to see you in 2027 when we can revisit this conversation and laugh together
As you mentioned, I agree with the rationale behind suspending the issuance of OIS. This is because price declines can be more severe when the market is weak. It is true that the overall market trend is currently poor; there is no room for excuses for that. However, has the Pyth coin shown good performance even during bull markets? I do not think so. I believe the issue lies in its distribution structure. I think the continuous decline in Pyth’s price due to monthly rewards, coupled with the fact that an excessive 20% of the annual supply remains unabsorbed, are factors that continue to hinder the coin’s price from rising. If this coin had demand and its price were well-defended, I would not have complained and would have trusted in their vision and waited. However, the continuous decline is wearing everyone down. That is why I wanted to speak up, even if it causes those with different views to frown. After all, everyone here wants the price of Pyth to rise.
Furthermore, I believe it is also a problem that the use of Pyth is limited to its internal ecosystem. I hope it will evolve into a coin that is utilized externally as well. I believe this coin should be utilized for Pyth Pro payments or become an essential component of the service. Since I am currently down over 70%, it is difficult for me to transfer this coin from a centralized exchange (CEX) to vote or draft proposals. This is because it represents a fixed loss. Consequently, the majority of people in my community have no choice but to give up and sell or simply wait. Although they do not express it openly, most people are struggling right now. I hope the Pyth team will listen to the investors’ concerns, even if only a little.
Once again, derrp, thank you for your valuable comment.
I think the issue with this is that Pyth Pro is often used by more traditional markets that may/may not have an interest in blockchain and would prefer to just pay in USD. If we force them to comply, they may seek an alternative data supplier. If we can take as many diverse payment methods as possible, that would be great.
Did you know that a portion of Pyth Pro Payments are actually used to buy back PYTH tokens off the open market? I may not have been clear with my previous statements, but you can see the March transactions and on-chain buybacks here:
With the eventual sunset of Pyth Core (and systems) the consistent buybacks of the DAO should increase consistent demand and reduce circulating supply. Increased demand, with reduced supply: simple economics in the long term .
I agree, in a perfect world PYTH would be used directly for subscription payments, but we currently live in a world where less than 10% are web3 native. So if we lock out >90% of the market, we would be doing ourselves a disservice. I am optimistic that this number changes (higher) in the longer-term future, but for now, purchases in USD are very welcomed in my opinion. The reserve has accumulated over 9.3 Million PYTH tokens to date. This number will grow and grow in the future. I consider this extremely positive.
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