The Pyth Community Council represents a cornerstone initiative to empower and amplify the collective voice of the Pyth community. This proposal establishes a 7-member council with control over the Pyth community affairs, to run community initiatives & dedicate itself to maximizing value creation for Pythians while accelerating the network’s growth through education and engagement.
Structure & Governance
In accordance with the DAO constitution, there are currently two councils (Price Feed Council and Pythian council) with designated responsibilities. However, these existing bodies does not directly address community matters, creating a significant gap in our governance structure. This proposal would establish a new Community Council that will be vested with the necessary authority and competencies to effectively manage and oversee community affairs, ensuring proper representation and engagement of our community members. The creation of this council has basis within the DAO as Pyth Improvement Proposals (PIP’s). Read more about PIP’s & the submission process here.
Proposed Plan and Feasibility
Structure of the council:
7 members serving 6 month terms.
7-signer multisig wallet.
$PYTH Stipend
Nomination and Election:
Elections function in the same way as other councils.
Pythians who use OIS or regular governance can nominate themselves on the Governance Forum and will be pushed to a realms vote after a completed submission.
Voting happens twice every 6 months on Realms to: (1) Vote on the council members, (2) approve the list of candidates with the higher number of votes.
Core Mandates:
Value Creation: Drive initiatives that directly benefit Pythians through:
Raise budget requests for the term and allocate according to the plan approved by the DAO
Impact Awards program oversight
Community-first development initiatives
Collective Voice: Represent and amplify community interests through:
Governance participation and advocacy
Partnership development
Cross-ecosystem collaboration
Network Growth: Champion Pyth’s mission through:
Educational content and resources
Community-driven research
Strategic partnerships and integrations
Council Roles
Each elected individual takes on a role* within the Pyth Community Council. These roles are:
Council Lead: Provides strategic oversight and leadership for community initiatives, coordinates between administrative, operational, and analytical functions while ensuring alignment with Pyth community goals and governance directions.
Administration: Impact Awards and community budget, overseeing product development.
Impact Operations: Development and creation of Pyth community social initiatives to boost the Pyth Brand within Impact Ops (Discord) & on Twitter (Portico).
Partnerships & Collaborations: Foster and grow community relationships and partnerships across web3 including events, collaborations, and integrations.
Analyst: Keep abreast of Pyth Governance and Product development and competitive analysis. Scope includes Community Impact Awards, Product information.
Applicants must outline in their application which 2 roles they think they are best suited for. Roles to be assigned post election. Must be at least 1 person in each position.
*All council members should assist in other responsibilities wherever possible - none of these roles can exist in isolation.
Budget and Financing
Finance Overview:
The Community council oversees and handles distribution of Pyth community rewards, grants and initiatives.
Performance Assessment:
A bad performing council member can be replaced on council with a 75% vote of no confidence (6/7 members).
In the event of a council member being removed before serving a full term, their place will be filled by the candidate who received the next most votes in during the election period.
Performance and Accountability
The council operates under a strict mandate to serve the community’s interests. A 75% vote of no confidence from council members can remove underperforming members, ensuring high standards of service to the Pyth community.
This council represents our commitment to building the strongest, most engaged community in DeFi. Through education, collaboration, and strategic growth initiatives, we will establish Pyth as the premier oracle solution while creating lasting value for all Pythians.
Yes yes and yes! Long time coming and I am very much in favor of putting more power in the Pythians and community leaders to take this to the next stage.
I have the same question than Planck about how the dynamic of having 5 “roles” but 7 members on the Council will work and how/when the roles will be assigned. There is also some overlap between the roles and Chiron Responsibilities/Duties so I’m curious.
Any clarification about the Stipend is also pertinent. I have already brought my opinion on this question in the discussion around the v1 of this proposal and I think the scope of the Council is bringing a very “work” like dynamic. All the “task” to be performed by the Council are worth a coherent compensation and although it might not need to be mentioned in the Council constitution proposal I guess some numbers need to be provided for guidance.
Looking forward for the answers and will likely bounce back with more or sub questions
There will be some natural overlap with the roles. Some of these roles being held by 2 people. For example, Partnerships and Collaborations is a huge, expansive role and could easily have 2-3 people assigned to it, given how large the Pyth ecosystem is.
There is no requirement regarding tokens. Every applicant MUST stake some Pyth tokens. I don’t think there should be a MINIMUM amount, however. In my opinion, community participation should not be limited by how much wealth you have.
The stipend is up for debate here, in my opinion. I forsee these 7 people doing( at least) 1 full time job’s worth of work between them. This is how i have been framing it for myself - but perhaps others have ideas?
The compensation thus far is undefined because i think the community probably has a better idea of what these positions are worth.
What would be the procedure to coordinate the actions of individuals with the same role? Will the Lead decide whether or not the efforts are meaningful and are in best interest of PYTH Community?
Yes, that is what I was referring to actually. What would be a minimum amount of tokens staked? I also agree with you regarding the fact that wealth shouldn’t be the main criteria to be elected.
@Amensch made a great proposal imo. It is reasonable.
First, I think it’s a great initiative, and I want to congratulate you on pushing forward these efforts.
I love the decentralization aspect. On the call, you talked about bringing people from all over the world to fill these positions, and I think that’s amazing.
@Amensch made a valid point—whoever gets elected should receive compensation for their work and efforts. It takes time and is valuable. I think the final amount should be voted on, but the proposed number seems reasonable.
There could be an activation tracker, not necessarily anything fancy, just a document where every action is recorded. This would allow the community to vote based on actual data if needed and help the council decide on potential removals.
It makes sense that some tasks require more than one or even more than two people to execute properly. For example, collaborations. I loved the ongoing Bera collab, and that should be replicated with other communities.
Excited to see this happening! Good luck! This is awesome, I really love the idea! Congrats again.
The only thing i would add is what @diegovas suggested providing monthly reports to the community. This is a great initiative that will help improve transparency and trust.
Something like a Community Council Report, covering:
Progress of initiatives
Budget allocation
Achieved partnerships etc
This will help build trust and give Pythians the opportunity to follow the Council’s work.
I completely agree and support this! Transparency is key, and this is exactly how you achieve it. A great communication strategy is needed from day one.
I think the main goal of the Council is to make things possible, give the community a voice and know who are their representatives and not to over complicate the processes nor to create extra administrative work. If I’m not mistaken such reporting is not required from any of the currently existing Council.
I might be from a different “school” regarding leadership and community management but I think that actions speaks for themselves and that we need to be in trust with the leaders on their intention and ethic of action. I would not be tempted to great an extra layer of reporting that is not already existing right now.
I think that @Amensch suggestion in terms of compensation is reasonable.
My expectative is that this information should be known before the call for candidate starts.
Several roles implies an important amount of time to be invested and knowing how this work is “valued” is a non-negligible component of taking the next step into this more formal structure.
Interesting proposal that would definitely boost capabilities and resources of Pyth community!
Something that I would like to add from my side:
Community Council Members Work & Progress should be publicly visible. Good practice taken from WEB 2 is Weekly/Monthly/Quarterly reports to track the activity of each member.
Collaborations are on of the biggest fields to cover. I would suggest to break it down for following ideas:
Nature of partnership. (Not only synergy can be obtained between communities but as well for the products utilization for both parties)
Blockchain
Minimum requirements from partner’s side to be met for collab securing
There are some questions that I have as well:
How the community council will vote for any proposal considering the difference in time zones? Could that be tracked as well?
What will be the criterias for Community Council efficiency for each branch?
Will the Chirons be under the jurisdiction of Community Council?
I think the mechanism of removal and replacement are to happen within the Council itself and not brought up for vote by the community.
I assume that Councilors will have all the required visibility and information to make such decision if ever required.
My past experiences in crypto showed me that being overly transparent can easily become a weight that bring a lot of slowness to take step forward and encourage status quo.
I think we want to achieve the same goal which is increase decentralization and awareness but maybe I overthink all of this
I’d rather explain myself. I think data is important because it will be used to evaluate the members. I didn’t mean something complicated, simplicity is always better. But in my opinion, data is useful and helpful, and that’s the way to make informed decisions.
Maybe i wasn’t clear enough. When I say Month Recap, i don’t mean a long detailed document. I’m talking about a short post, message or any simple format just a few key points to highlight what the Council achieved that month.
Performance Assessment and Council Member Replacement
The Council shall conduct a formal performance review every two (2) months to assess the engagement, contributions, and overall effectiveness of each Council Member (“Performance Assessment”). The Performance Assessment will evaluate activity levels, responsiveness, decision-making participation, adherence to budget management principles, and alignment with community engagement goals. Each Council Member shall be given the opportunity to self-report on their contributions and address any concerns raised by other members. The results of the Performance Assessment will be documented and included in the Council’s regular reporting to the DAO and the community.
I would like to propose every (1) month assessing. Also there is no guideline regarding the absence/inactivity of the member due to personal/family reasons. I guess it would be beneficial to have such an inclusion that would determine the period that will not be included in any kind of assessment. Duration of that period should be known for each Community Council member for the period of their election.
If in the course of the Performance Assessment a Council Member is deemed consistently underperforming or failing to meet their obligations, the remaining Council Members may initiate a vote of no confidence: A Council Member may be removed from office if a vote of no confidence receives a supermajority of 75% in favor of removal. The affected Council Member shall not be entitled to vote in the procedure concerning their own removal. The vote shall be documented and reported to the DAO immediately. Upon removal, the vacant position may be filled in accordance with the governance and succession procedures established by the DAO.
Also I guess it’s fair to say that each Community Council Member has the right to initiate rather than may initiate the vote of no confidence if deemed necessary.
In the Core Mandates is it possible to implement weekly revenue updates mentioning not only the total weekly revenue made mainly from feed price updates, but also which blockchain has used the most feed price updates on that week?
This way we would be able to maximize the revenue growth, contributing also for the long term growth on pyth in a sustainable way.
How the community council will vote for any proposal considering the difference in time zones? Could that be tracked as well?