[PASSED] OP-PIP-84: 4th Pythian Council Election

Proposals
1

Abstract

This proposal aims to:

  1. Approve the 6 nominees for the 4th Pythian Council

  2. Distribute the stipend to the 3rd Pythian Council members that have met the threshold

  3. Continue the previously approved stipend of 100,000 PYTH to be shared among Pythian Council Members

Description

  1. Approve the 4th Pythian Council

As explained in the Guide to Election, 6 seats were available for new council members to join the Pythian Council. The 2 extra seats available are due to the fact that some automatically re-elected members actually failed to meet voting threshold and therefore are subject to removal.

Over 3 weeks, there has been only 6 nominations for the Pythian Council. Therefore, the election could overall be avoided and go straight for DAO approval via a token vote.

The 2 remaining candidates are:

  • Yaser Jazouane — Douro Labs

  • George M — XBTO

The 6 exiting council members are:

  • Lee Mount — Euler Labs

  • Y2Kappa — Kamino

  • Ivo Galic — Trebuchet Network

  • Jayant Krishnamurthy — Douro Labs

  • Nope — Save, Suilend

  • Marc Tillement — Pyth Data Association

The 6 nominees that will replace the exiting council members are:

  • GrizzlyLand — Pyth Network Chiron

  • Ivo Galic — Trebuchet.Network

  • dr497 — Accretion

  • Frozenmind — Pyth Network Chiron and Pythenians Co-founder

  • Jayant Krishnamurthy — Douro Labs

  • Marc Tillement — Pyth Data Association

  1. Distribute the Pythian Council Member stipend

As initially requested here, and approved during the last Pythian Council Election here, 12,500 PYTH must be distributed to each council member that met the activity threshold.

You can find the table recapping all proposals (OP-PIP) here.

Only 5/8 of the council members surpassed the 1/3 activity threshold and so will each receive 12,500 PYTH tokens from the DAO wallet.

Are eligible to the stipend:

  • Jayant Krishnamurthy — Douro Labs

  • Ivo Galic — Trebuchet Network

  • Yaser Jazouane — Douro Labs

  • Marc Tillement — Pyth Data Association

  • George M — XBTO

The PYTH tokens will be sent to the wallets used for their council activities.

  1. Approve the stipend continuation to the Pythian Council members

If approved by the onchain vote, the stipend will be paid out when the 5th Pythian Council gets 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 wallets of the 3 council members that are off-boarded (not re-elected and not nominated for 4th council)

→ 5uE5uaHMvQwwx4eBzqVK6bshMgRhCbv48qmdxyHhYMyU (Lee)

→ iS4emTrC6j5eqZ3gtWK2wY8YRNa66xrwTCGwvVY3bFD (Y2kappa)

→ 38XhwqCgQGdeNeXyHQ94Jrdsoup71G6ioiYuvimXwH3z (Nope)

  1. Add the wallets of the 3 new council members that have nominated themselves for the next council:

→ 6yV7syMPK3Tyq7i6dn4VKxnHQuYPoep7BJjMrwevngeu (GrizzlyLand)

→ 9ATt1c3ZX1zMeVaN12dXtMhrX6TpBG8V5bqwjgsV9bt3 (dr497)

→ ABrqTPc3aWGXdsu4dL188vwLSCE92FSRHqn9iYbC3bsu (Frozenmind)

  1. Distribute 12,500 PYTH to each of the 5 council members entitled to the stipend:

→ 3ouXHhNH6QgyxDRLmjgCddbTqYBkPSufLiLgTp2BVy2p (Jayant)

→ 77hQtJXZYhK6WpqauHxwVP2SNYjE5yirtTWHn7Q8tufB (Ivo)

→ 4NPkYMw1v6CNX7C3HjyuMvJeWSxYHy15yvYH1xSSBnxv (Yaser)

→ 9sfogFjG8CJKJGWvNDB7NgPusALti3hWKkHGZhKmmxD7 (Marc)

→ HxDfn7zEfUMoGFgoMNihr5y5cVMaY8z4FVzz6e4QiAaS (George)

The account/vault of the multisig config is: FVQyHcooAtThJ83XFrNnv74BcinbRH3bRmfFamAHBfuj

Onchain Proposal: OP-PIP-84: 4th Pythian Council Election | Pyth Governance

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The above proposal (the 4th Pythian Council Election) has successfully passed.

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