I propose the creation of a Community Council within the Pyth DAO to oversee community initiatives and foster engagement.
This initiative aims to cultivate a positive and dynamic community atmosphere, enhance brand awareness, and support the growth and development of the Pyth Network community.
The council will have formal responsibilities, term limits, member selection processes, and incentives.
Rationale
The establishment of a Community Council is crucial for the continued growth and cohesion of the Pyth Network.
By creating a dedicated team responsible for community engagement and initiatives, we ensure that our community remains vibrant, informed, and actively involved in the network’s evolution.
This council will serve as a bridge between the Pyth Network and its users, fostering a culture of collaboration and shared success.
Proposed Plan and Feasibility
After discussions (2 weeks after posted on the forum), the community should reach consensus about several aspects of the community council:
Structure of the council (Member count, term details, incentives)
Nomination and Election Processes
Responsibilities
Current Proposal:
Structure of the council:
6 members for a 6 month term
No limit on consecutive terms
$500 / month stipend (paid in $PYTH)
Nomination and Election:
Pythians can nominate themselves or be nominated
1K $PYTH staked for nomination
Voting happens twice every 6 months on Realms to: (1) select the council members, (2) ratify this list.
Responsibilities of the Council:
Governance Participation: Actively participate in governance discussions in the Pyth Forum and Realms.
Community: Boost community engagement through Impact Awards program, Chirons selection and performance review, and other activities.
Brand Awareness: Advocate for Pyth as a premier DeFi solution by engaging with projects, stakeholders, and individual market participants online.
Education: Inform and inspire individuals about the Pyth Network.
Partnerships and Collaborations: Initiate and build partnerships with projects that enhance the Pyth ecosystem and community.
Coordinate with Pyth Data Association: Collaborate and coordinate with the Pyth Data Association members, such as Chop and Pepito, on these community initiatives, resource allocation, and execution.
Questions or Uncertainties
How can we ensure that the council represents the diverse interests of the Pyth community?
What criteria should be used to nominate and elect council members? Minimum amount staked? Be co-opted by someone?
What should be the length of a term? Re-election policy?
In the case of a councilor not performing, how does he get removed and how does he get replaced?
What should be the total budget allocated to the council for one term?
What should be the stipend/reward for council members for one term?
Question : what position in the hierarchy will the Council members hold? Are they on the same level as Chop and Pepito, are they Chiron’s supervisors or will it be a separate working group?
My suggestions: the first term should be 3 months perhaps? Sort of like a probation term for everyone. To see how things work, what can be done better etc. Also, imo in case the councilor is not performing, the reelection should happen immediately and the person who won the vote should be in the potential candidates list for the next term automatically since there is no limit to consecutive terms.
Pyth is built for the community, and such a council would be a significant and powerful step towards this goal
I see a world where multitudes of different cultures, sub-groups, and flavors of DeFi — like a federation of sorts — abide by the immutable governance rules of the Community Council to democratically bring about the type of Pyth Network community and spirit they want to see in the end.
Tribes, sub-cultures, geographies, and whole new movements
I have revisited the Pyth DAO Constitution earlier and read about the CO-PIPs for the creation of Pyth DAO councils and sub-committees and now it is here!
i would like to add an additional to question/uncertainty number 4.
How will we measure if a councilor is not performing? Will there be an outside entity checking on them? Will they have something like KPIs to target?
With chirons I remeber chop setting out a pretty basic monthly ruleset. But what a chiron is for example has molded so much since the first couple of us where given the role.
Hold votes or polls once and a while to get a feel where the people stand on council.
You get a vote, we all get a vote… hopefully 1 to 1…
I like where this is going! A must in my mind to keep giving the power to the Pythians on everything that happens for the Network and led by the community.
I agree to align the term’s length with the 2 other councils (6 months) which gives time for the chosen Pythians to have time to make their mark and create value for the community. Re-election makes sense too as a performing council member is valuable and can keep his role if the Pythians decide to keep voting him in.
As for the underperformance, I can imagine a few KPIs to track but also believe that a low-performer/free-rider would be quickly spotted by the community and his fellow council members. If that were the case, council members could vote to oust him and I would propose for the council to select his replacement from a list of self-nominated community members. Voting again would be wasting precious time of the 6 months and slow down the council’s activity.
500 $PYTH as stipend would make sense. I could imagine more to incentivize members to produce more and create more value.
Will circle about the total budget after doing some math
Good question as I would like to have different skillset among the members. Some with Discord moderation, some more external facing (on X), some with DeFi and NFTs knowledge and relationship for partnerships.
This is a great step in the right direction. Thanks a ton @Debanked on the initiative and work done!
The council would indeed take on this responsibility from what i see. Out of myself and Chop’s hands which is a great IMO.
As this would need to be passed with a constitutional PIP (whole DAO vote) this seems pretty tough as we’d likely need to vote again later on to move to 6 month terms. 3 months would be very short to get good early results.
Good step towards a more decentralized Pyth ecosystem, I like the direction that @Debanked has proposed here
2 comments here:
I’m leaning towards a lower number of council members, with opportunities to grow the size whenever the needs arise. And also would be nice if the council members are kept to an odd number (e.g. 3 or 5) so there will always be someone that becomes the tie-breaker for any decisions made by the Community Council
Instead of keeping it to a $ amount for the stipend, a fixed amount of PYTH will be easier for calculations (given $ amount in tokens can be highly volatile)
As for the questions - I have a few ideas
Each council members can specialize in certain areas, e.g. 2 members specializing on Community (Telegram, Discord, X), 2 specializing on Education, and 2 specializing on Partnerships and Collaborations
Minimum staked makes sense (I think the minimum threshold should be 1 month’s worth of stipend as a Community Council). One that could be interesting is to have a vouching system based on Discord roles, so members with higher Discord roles are prioritized over newer members
Length of a term - 4 to 6 months makes sense, we can keep re-election policy as N/A for now until someone is found to abuse it
I think for now, because the term is quite short, whenever someone does not perform the community members can just elect not to choose the same candidate for a repeat
Will come to 5 in a bit, and 6 has been answered above
That could be better indeed. 5 makes sense to get a ‘high’ number of contributors. Although with the likely continuation of the Chirons program, I don’t envision the decision-making to be solely in the council’s hands but to include the xx chirons (8-15?). Makes sense as they are also on the ground and active within the community.
And it’s because of this potential volatility that denominated in $ is better IMO to reassure and secure a stable monetary incentive for councilors. Interested to hear others’ opinions on this.
The hope will be such a council will be active I growing our mindshare as a community
The name Pyth is massively known in social media esp, bringing awareness of how beneficial being community will be just one of the idea a council could bring
How does this differ from chops white papers for chirons. A lot of what you brought up was outlined back in late feb and evolved into most of what is outlined up above until now the end of IA cycle 1.
Besides the voting (which chiron do in a sense), does this differ because it is more outside of the discord.
