[PASSED] CO-PIP-121.V2: OIS Reward Pool Withdrawal to DAO Treasury

Proposals
1

Abstract

This is a resubmission of CO-PIP-121, which failed to reach quorum due to a technical voting issue (Fireblocks/Realms integration) affecting a major staker and not due to lack of community support. The proposal is unchanged.

This Constitutional PIP proposes to withdraw the remaining 849,207.755112 PYTH from the OIS reward pool custody and return it to the Pyth DAO Treasury.

PROPOSAL: [PASSED] CO-PIP-121.V2: OIS Reward Pool Withdrawal to DAO Treasury

Motivation

Following the passage of OP-PIP-103: Pausing OIS Rewards, the OIS reward rate parameter (Y) was set to 0 on April 22, 2026. No new rewards are being distributed.

With the Pythnet infrastructure sunset scheduled for Q3 2026 (OP-PIP-100), OIS as a rewards program has effectively concluded. Approximately 849,208 PYTH remain in the reward pool with no planned use.

These tokens should be returned to the DAO Treasury where they can be allocated toward active initiatives rather than sitting idle in a deprecated program.

Specification

Action: Withdraw all remaining PYTH from the OIS reward pool custody to the Pyth DAO Treasury.

Source:

  • OIS Pool Config: BE8Xq1iHSQYKG8CZorZsrTnxyeHKQLzCWm4dYKdFkVEL
  • Reward Pool Custody: FbSivnCf6iXfXns6osFih2MgX8icmSKx9iba3gyFpiCT

Destination:

  • Pyth DAO Treasury: Gx4MBPb1vqZLJajZmsKLg8fGw9ErhoKsR8LeKcCKFyak

Amount: 849,207.755112 PYTH

Please note that this proposal has no impact on stakers (staking and slashing mechanisms remain functional, with rewards already set to 0).

Technical Implementation

The withdrawal is enabled by the new withdraw Instruction added in governance v2.2.0:

  • PR: #575 adds withdraw instruction for reward_program_authority
  • Commit: 68a9a36

This instruction allows the authorized reward_program_authority to transfer PYTH from the pool reward custody to a specified destination (the DAO Treasury).

Implementation Plan

On-chain proposal addresses:

• Program: pyti8TM4zRVBjmarcgAPmTNNAXYKJv7WVHrkrm6woLN
• Buffer: 3p2Q9ACyHYRPWUh59mZohcVmSDmhyQnL3HijauzcJsWG
• Spill: ACzP6RC98vcBk9oTeAwcH1o5HJvtBzU59b5nqdwc7Cxy

Execution

  1. Execute withdraw instruction on OIS pool •

From: FbSivnCf6iXfXns6osFih2MgX8icmSKx9iba3gyFpiCT (Reward Pool Custody)

To: Gx4MBPb1vqZLJajZmsKLg8fGw9ErhoKsR8LeKcCKFyak (Pyth DAO Treasury)

Amount: 849,207.755112 PYTH

References

1 Like
[PASSED] OP-PIP-127: OIS Reward Pool Withdrawal Execution