[PASSED] OP-PIP-118: 5th Pythian Council Approval

Proposals
1

Abstract

This proposal aims to:

  1. Approve the 4 nominees for the 5th Pythian Council

  2. Distribute the stipend to the 4th Pythian Council members that have met the threshold

  3. Continue the stipend of 12,500 PYTH per member for the new term

PROPOSAL: OP-PIP-118: 5th Pythian Council Approval | Pyth Governance

1. Approve the 5th Pythian Council

As explained in the Guide for the 5th Pythian Council Election, 4 seats were available for election. The 4 members automatically re-elected based on tenure are:

  • George M — XBTO

  • Yaser Jazouane — Douro Labs

  • GrizzlyLand — Pyth Network Chiron

  • Frozenmind — Pythenians

Over 2 weeks, there have been exactly 4 nominations for the Pythian Council. Therefore, the competitive election could be avoided and we proceed directly to DAO approval via token vote.

The 4 nominees are:

| Candidate            | Organization          | Nomination | Wallet                                       |
| -------------------- | --------------------- | ---------- | -------------------------------------------- |
| Marc Tillement       | Pyth Data Association | Forum      | 9sfogFjG8CJKJGWvNDB7NgPusALti3hWKkHGZhKmmxD7 |
| Jayant Krishnamurthy | Douro Labs            | Forum      | 3ouXHhNH6QgyxDRLmjgCddbTqYBkPSufLiLgTp2BVy2p |
| Ivo Galic            | Trebuchet Network     | Forum      | 77hQtJXZYhK6WpqauHxwVP2SNYjE5yirtTWHn7Q8tufB |
| Saad Majdaoui        | Pyth Network Chiron   | Forum      | BMU13MZtSmNyfEEftoCgyFKrcFdVJkmfRUpAsFru6tut |

Practically, the 1 exiting council member is:

  • dr497 — Accretion (did not meet 33% participation threshold)

2. Distribute the Pythian Council Member stipend

As previously approved, 12,500 PYTH must be distributed to each council member that met the activity threshold. You can find the participation tracking here.

7 of 8 council members surpassed the 1/3 activity threshold and will each receive 12,500 PYTH:

| Member               | Organization          | Participation | Eligible |
| -------------------- | --------------------- | ------------- | -------- |
| Marc Tillement       | Pyth Data Association | 92.31%        | ✅        |
| Frozenmind           | Pythenians            | 84.62%        | ✅        |
| GrizzlyLand          | Pyth Network Chiron   | 76.92%        | ✅        |
| George M             | XBTO                  | 69.23%        | ✅        |
| Jayant Krishnamurthy | Douro Labs            | 61.54%        | ✅        |
| Yaser Jazouane       | Douro Labs            | 53.85%        | ✅        |
| Ivo Galic            | Trebuchet Network     | 46.15%        | ✅        |
| dr497                | Accretion             | 15.38%        | ❌        |

3. Approve the stipend continuation

If approved, the 12,500 PYTH per member stipend will be paid out when the 6th Pythian Council is introduced in 6 months.

Implementation Plan

Verify the instructions of the onchain DAO proposal to ensure that the below actions are performed:

1. Remove the wallet of the 1 council member that is off-boarded:

-> 9ATt1c3ZX1zMeVaN12dXtMhrX6TpBG8V5bqwjgsV9bt3

2. Add the wallet of the 1 new council member:

-> BMU13MZtSmNyfEEftoCgyFKrcFdVJkmfRUpAsFru6tut

Note: Marc Tillement, Jayant Krishnamurthy, and Ivo Galic are re-nominating with their existing wallets — no change required.

3. Distribute 12,500 PYTH to each of the 7 council members entitled to the stipend:

-> 9sfogFjG8CJKJGWvNDB7NgPusALti3hWKkHGZhKmmxD7

-> ABrqTPc3aWGXdsu4dL188vwLSCE92FSRHqn9iYbC3bsu

-> 6yV7syMPK3Tyq7i6dn4VKxnHQuYPoep7BJjMrwevngeu

-> HxDfn7zEfUMoGFgoMNihr5y5cVMaY8z4FVzz6e4QiAaS

-> 3ouXHhNH6QgyxDRLmjgCddbTqYBkPSufLiLgTp2BVy2p

-> 4NPkYMw1v6CNX7C3HjyuMvJeWSxYHy15yvYH1xSSBnxv

-> 77hQtJXZYhK6WpqauHxwVP2SNYjE5yirtTWHn7Q8tufB

Total stipend distribution: 87,500 PYTH

The account/vault of the multisig config is: FVQyHcooAtThJ83XFrNnv74BcinbRH3bRmfFamAHBfuj

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