Today, on September 12, 2024, the newest Pythian Council has been elected and approved by the Pyth DAO through on-chain voting. This blog post serves as an update announcement for the Pyth DAO and wider DeFi community on the recent status of the Pythian Council, one of the two Pyth DAO councils.
Pythian Council
As per the Pyth DAO Constitution, the Pythian Council is made of 8 members who are signers of the Pythian Multisig Wallet. The composition of the Pythian Council aims for geographical diversity to better fulfill and realize the ethos, mission and guiding values of the Pyth DAO.
The Pythian Multisig Wallet has powers to perform actions that are delegated to it by the Pyth DAO. Operational Pyth Improvement Proposals (PIPs) delegated to the Pythian Council include:
- Operational PIPs delegated to the Pythian Council involve:
- Upgrades to the oracle program.
- Upgrades to the verification program for each blockchain where Pyth data is accessible.
- Setting of data request fees per blockchain, as well as other protocol or network fees.
- Management of PGAS allocation and delegation to validators.
- Upgrades to the Express Relay program for each of the blockchains where available.
- Assignment of the relayer function and monitoring of the performance of such assignments.
- Setting of the Express Relay fee distribution.
- Upgrades to the Entropy program for each of the blockchains where available.
- Setting of Entropy request fees for each of the blockchains where Entropy is available.
- Setting of pool capacity parameters in OIS
- Setting of delegation fees for stake delegators in OIS.
- Determining slashing amounts from staked amounts OIS in compliance with the slashing rules and procedures defined by the DAO.
The execution of such actions by the Pythian Council requires 7-of-9 approval.
The second election of the Pythian Council was conducted via on-chain voting. New elections will begin 6 months after the previous election has started and will replace 4 members of its cohort of 8 members.
Council Members of September 12, 2024
Firstly, a warm congratulations to the newly elected Pythian Council members. The Pyth contributors and the wider DeFi ecosystem wish them luck on their duties as council members. We also extend our thanks to the outgoing members that have actively participated in the previous council.
Below is a summary of the newly elected Pythian Council members. You can see their full candidate profiles on GitHub.
The members are listed below by order of the number of affirmative votes for that candidate. The top 4 candidates by votes can remain as council member for up to two terms.
- Contributor at Synthetix
- Location: North America
- Motivations: Synthetix is a top user of Pyth Data with plans for further collaboration.
- Experience: 3 years as a contributor to the Synthetix protocol with DeFi and oracle systems expertise.
- Role: Director at Pyth Data Association
- Location: Europe
- Motivations: Key stakeholder of the Pyth Network as a member of the Pyth Data Association.
- Experience: 3 years as a contributor to the Pyth Network, with past governance participation engagement in Synthetix, Aave, Optimism, and Compound.
- Role: CCO and Co-Founder at Wormhole Foundation
- Location: Europe
- Motivations: Wormhole is a critical infrastructure provider for the Pyth Network.
- Experience: Wormhole Foundation lead and core contributor to the Wormhole Protocol. Participant in various DAOs across EVM and non-EVM chains.
- Role: Software Engineer at Douro Labs
- Location: Europe
- Motivations: Douro Labs is a significant technical contributor to the Pyth protocol and member of the Pyth Network ecosystem.
- Experience: 2+ years of experience working on the Pyth codebase. Helped build most of the governance software stack for the Pyth DAO.
- Role: Co-Founder and CTO at Douro Labs
- Location: North America
- Motivations: Douro Labs is a significant technical contributor to the Pyth protocol and member of the Pyth Network ecosystem.
- Experience: 2+ years of experience as a software contributor to Pyth, working across all parts of the codebase.
- Role: Founder of Trebuchet
- Location: Europe
- Motivations: To participate as Trebuchet Network is a publisher, validator and technical contributor to the Pyth protocol.
- Experience: 8 years of experience at Google, early contributor and active evangelist of Pyth ecosystem.
- Role: Core Developer at Kamino Finance
- Location: Europe
- Motivations: Kamino Finance has over $2B assets secured by Pyth oracles, so it is critical to ensure the reliability and security of the Pyth Network for Kamino's stability.
- Experience: Long-term contributor to Pyth oracles for 3+ years.
- Role: CTO at Solend
- Location: North America
- Motivations: Solend is a long-time user of Pyth Data.
- Experience: 3 years of building on Solana (and working with Pyth). Serves on ecosystem multisigs for spl-stake-pool, openbook-ex, and Marinade.
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