[PASSED] CO-PIP-7: Creation of the Community Council

Proposals
1

This proposal seeks to establish the Pyth Community Council, a dedicated 7-member body responsible for overseeing community initiatives, fostering engagement, and amplifying the collective voice of the Pyth community.

If approved by the Pyth DAO — via an on-chain vote — the Pyth DAO Constitution would be updated to reflect this new council ; you can see the updated DAO Constitution here.

Rationale

Currently, the Pyth DAO operates with two councils: the Price Feed Council and the Pythian Council, each with specific responsibilities. However, there is a notable gap in addressing community affairs directly.

The establishment of the Pyth Community Council aims to fill this void by providing dedicated oversight and management of community-related matters. This initiative aligns with the Pyth community’s mission to enhance decentralization, promote active participation, and ensure that community interests are adequately represented in the network’s evolution.

Description

The Pyth Community Council is a governance body comprising seven elected members who collectively manage the Community Multisig Wallet. This wallet holds powers delegated by the Pyth DAO, enabling the council to execute approved actions. The multisig requires 6-of-8 approvals to authorize transactions, with one of the signers being the Operations Wallet itself.

Council members serve staggered 12-month terms, with elections held annually to replace two members per cycle while retaining the remaining five based on tenure, previous election votes, and multisig participation. Members with less than one-third voting participation during their term are ineligible for re-election.

In case of an unscheduled vacancy, the highest non-elected candidate from the previous Community Council election is offered the seat.

The council’s core mandates include Value Creation, Collective Voice, and Network Growth, ensuring budget oversight, community incentives, governance participation, partnership development, and research initiatives. Members are assigned roles such as Council Lead, Administration, Impact Operations, Partnerships & Collaborations, and Analyst, fostering both specialization and collaboration.

All council members must adhere to the Code of Conduct for the Community Council, reinforcing accountability and alignment with the Pyth DAO’s decentralized governance principles.

You can review the Code of Conduct on IPFS here.

Implementation Plan

The following plan will be in effect only if the Pyth DAO vote (onchain) in favor (67%) of the Constitution edit introducing the Community Council: Realms

  1. Start the Community Council Nomination process in the Pyth Forum
  2. Vote (onchain) to decide the Community Council members
  3. Vote (onchain) to approve the elected Community Council members
12 Likes
2

This is beyond major. The community has been an endless support of creativity and inspiration, but needed certain structures and resources to be able to do more, with the appropriate independence (and a meaningful mandate).

TL;DR: If you like Pyth and really believe in its mission, this is a lowkey but extremely essential step.

budget oversight, community incentives, governance participation, partnership development, and research initiatives . Members are assigned roles such as **Council Lead, Administration, Impact Operations,

Times are changing fast

7 Likes