Abstract
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:
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Governance Participation: Actively participate in governance discussions in the Pyth Forum and Realms.
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Community: Boost community engagement through Impact Awards program, Chirons selection and performance review, and other activities.
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Brand Awareness: Advocate for Pyth as a premier DeFi solution by engaging with projects, stakeholders, and individual market participants online.
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Education: Inform and inspire individuals about the Pyth Network.
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Partnerships and Collaborations: Initiate and build partnerships with projects that enhance the Pyth ecosystem and community.
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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
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How can we ensure that the council represents the diverse interests of the Pyth community?
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What criteria should be used to nominate and elect council members? Minimum amount staked? Be co-opted by someone?
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What should be the length of a term? Re-election policy?
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In the case of a councilor not performing, how does he get removed and how does he get replaced?
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What should be the total budget allocated to the council for one term?
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What should be the stipend/reward for council members for one term?