[PASSED] OP-PIP-15: Implement Pyth Update Fee on opBNB


Following the interest expressed by KiloEx and the positive response from the community to have the Pyth oracle deployed on opBNB, this proposal is to implement a fee per price feed update of 0.000186 BNB (or about $0.09 at 27/05/24 price) in the Pyth smart contract.

Find the community discussion here: Deploy Pyth’s pull oracle to opBNB - #21 by Sloth1890


This deployment to opBNB enables all DeFi protocols, current and future, to use Pyth Data. This integration is also the first opportunity for the DAO to implement fees on a new deployment.

From the DAO perspective, KiloEx has constantly gathered over 3,000 daily active users on opBNB since the beginning of 2024 — KiloEx Trade

Even when assuming a single trade per user or 3,000 price update requests, daily revenue would be about 0.55 BNB ($350 / day at 27/05/24 price).


This proposal upgrades the existing Pyth oracle contract on opBNB to increase the fees (Pyth Update Fee) collected for every feed updated from 0.000000000000000001 BNB to 0.000186 BNB.

Implementation Plan

Proposal id: HFScDYf98dMaHP9tzy1abT7GMqAUVD8YfVcgx32yvQZY

Verify the implementation following the steps below:

  1. The New Fee Value multiplied by 10 power the New Fee Expo equals to the agreed fee above

$0.09! That’s the largest fee structure proposed for any Pyth-supported chain!

I invite everyone to imagine if the fee were $0.09 not just for opBNB, but also all the other 60+ blockchains powered by Pyth…

See also: https://docs.pyth.network/price-feeds/how-pyth-works/fees


It seems quite high right?

It adds up quick, so would projects actually be willing to pay that kind of money for the data?

hello gnarleyquinn!
about the fees, i have read about it in the discussion thread.
quoting some of them here,

or visit the thread for the full posts

if you already did, then im sorry! :bowing_man:


I think I would just prefer fee structure’s in crypto to be so incredibly negligible that they are not a factor when transacting at all.

I used ETH for the first time in months yesterday and gas was $20 - absolutely insane

1 Like