[PASSED] CO-PIP-104: Pyth Pro Governance & Payment Currency Flexibility

Proposals
1

Abstract

This Constitutional PIP amends the Pyth DAO Constitution to:

  1. Add a Pyth Pro Governance section, formalizing operator assignment, revenue distribution, payment terms, reporting requirements, and termination provisions for Pyth Pro and Listing as a Service (LaaS)

  2. Enable PYTH token deliveries, allowing Douro Labs to deliver to the DAO the revenue generated in USDC, PYTH tokens, or a combination thereof for Pyth Pro, LaaS, and Pyth Data Marketplace

  3. Update the Pyth Pro definition to reference the new constitutional governance section rather than CO-PIP-9

Rationale

  • Current State

The Pyth Data Marketplace and Pyth Pro are governed differently today.

Marketplace governance is codified directly in the DAO Constitution (added via CO-PIP-99), with formal sections covering operator assignment, revenue distribution, payment terms, reporting, and termination.

Pyth Pro governance is defined by CO-PIP-9, a standalone proposal that established rules but was never incorporated into the Constitution itself.

This creates an asymmetry: two major DAO products with different governance standards. One lives in the Constitution; the other exists only as a reference to a prior proposal.

  • Why This Change

This PIP adds Pyth Pro governance directly to the Constitution, giving it the same formal structure as the Marketplace. Operator assignment, payment terms, reporting requirements, and termination provisions all in one place.

Both Pyth Pro and Marketplace sections will also allow Douro Labs to deliver in USDC, PYTH tokens, or a combination, with transparent pricing and minimum value guarantees protecting the DAO.

Key Terms

  • Payment Currency Flexibility

Douro Labs may pay DAO revenue distributions in USDC, PYTH tokens, or a combination thereof.

When paying fully or partially in PYTH:

Term Definition
Pricing Average daily closing price of PYTH/USD Pyth Lazer feed across all calendar days in the payment month
Minimum Value Guarantee PYTH amount delivered cannot be less than the USD-equivalent value owed
  • Revenue Distribution (Unchanged):
Product DAO Share Operator Share
Pyth Pro Subscriptions 60% 40%
Listing as a Service (LaaS) 90% 10%
Pyth Data Marketplace 60% 40%

Implementation Plan

  • Upon passage:

  1. Add Pyth Pro Governance section to the Constitution covering operator assignment, revenue distribution, payment terms, reporting, and termination

  2. Add Payment Terms subsection to Marketplace Governance with identical PYTH flexibility language

  3. Update Pyth Pro definition in Terminology to reference the new constitutional section

This CO-PIP supersedes the payment terms in CO-PIP-9.

The proposed amended Constitution is available at: https://github.com/pyth-network/governance/pull/574

Proposal: CO-PIP-104: Pyth Pro Governance & Distribution | Pyth Governance

  • Summary of Changes
Section Change
Terminology Update Pyth Pro definition
Pyth Pro Governance (new) Complete governance section
Pyth Data Marketplace Governance Add Payment Terms subsection
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