[PASSED] CO-PIP 3: Release Express Relay on Mainnet


On the back of the positive feedback received from the community on the prototype deployed on testnet (here) and the completion of the security audit, this proposal is to implement the first instance of the Express Relay in production.

To vote on this proposal, please proceed below:


  • DeFi protocols and DeFi users will benefit from the Express Relay primitive to reduce value leaking to block builders
  • Liquidation Searchers will benefit from broadening their access to liquidation opportunities
  • Pyth DAO will benefit from helping DeFi grow through additional revenue. Such revenue can be used to further Pyth ecosystem


Express Relay consists of on-chain smart contracts and a off-chain user driven auction system infrastructure. DeFi protocols expose liquidation opportunities to Express Relay, and Searchers compete over the opportunity to liquidate through an auction system running off-chain. Liquidations are resolved in one-transaction within the same block.

  • this first instance will be on EVM chains (details in the implementation plan), with further deployments delegated to the Pythian Council, based on demand
  • the selection of ecosystem projects to provide a reliable infrastructure for the off-chain system and monitor their performance is delegated to the Pythian Council
  • Express Relay in production will continue to be oracle agnostic. Searchers and Protocols can use separate oracles to measure health factors and price the liquidation opportunities
  • Pyth DAO to earn 26% of the revenue collected by the Express Relay protocol. Such revenue is defined as the bonus paid by the winning Searcher for each of the liquidations processed through Express Relay. 4% is allocated to infrastructure providers and 70% is allocated to the DeFi protocols using Express Relay, inline with the design goal for DeFi to recoup most of the value

Implementation Plan

  1. DAO constitution changes to add Express Relay: link
  2. Security Audit report: link
  3. Technical deployment:
    • Deploy contracts on mainnet with Pyth DAO as the sole admin of the express relay contract
    • Set the relayer via DAO proposal in the contract once the server is live on mainnet accepting new liquidation opportunities and conducting auctions
    • Conduct final tests with mainnet assets in small quantities to double check searchers and the relayer correct integration
    • Protocols upgrade to use express relay as their main entry point for their liquidations

Lets see what happens with this one…

Not the most technical person over here but as far as I understand it looks like a thing that might affect pyth for the good

1 Like

The proposal has passed with already 67.5% of the total staked tokens in favour.

Many thanks to all Pythians for their continued participation in the future of the Network