Abstract
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.
Council Code of Conduct
Read the Council Code of Conduct here. By nominating yourself as a council member you agree to follow the code of conduct as linked above.