[PASSED] CO-PIP 9 :: Proposal to Assign Douro Labs as Administrator and Initial Distributor for Subscriptions to Pyth Data Off-chain

Summary

On the back of the discussion here,Douro Labs LLC (together, with its subsidiaries and affiliates, “Douro Labs”) formally proposes that the Pyth DAO:

1. provide to Douro Labs certain services through the Pyth DAO’s operation of the Pyth Network, the result of which is access to Pyth Network data (the “Services”),

2. authorize Douro Labs to distribute the Services to other data distributors and downstream consumers of Pyth Network data through a subscription-based services structure, and

3. appoint Douro Labs to implement, administer, and provide ministerial, technical, and operational support for the Services for the next 24 months.

Motivation

This assignment represents a pragmatic and low-cost execution path to the DAO for a subscription model to its data, while the DAO retains the majority of the revenue and control over the relationship.

Scope of the Assignment

Douro Labs proposes to to undertake the following actions in relation to the Services:

• In its capacity as a distributor of the Services:

  • Market the Services to potential customers and distributors leaning on the high quality of the data produced by Pyth and the trusted first parties contributed to the data quality

    • Drive execution, institutional engagement, and growth, while preserving a level of decentralization and transparency that sets Pyth apart from many protocols that have yet to reach this degree of community ownership.

    • Regularly report on its distribution progress to Pyth users, including DAO members, to ensure that all participants are aware of the progress made in enabling subscriptions off-chain and total transparency over the value generated by the assignment as a data distributor

  • Negotiate and execute contracts with subscription clients and/or distributors in substantially the same form as provided in the two agreements provided below:

    • End-user data agreement (link)

    • Data agreement for Distributors (link)

• In its capacity to implement, administer, and provide ministerial, technical, and operational support for the Services:

  • Operate the subscription infrastructure, including the product endpoints, its APIs and the payment solutions used to realize the subscription revenue

  • Report revenue and performance to the DAO on quarterly basis, including attestations of the revenue generated from all distributors and proof of value capture by the DAO’s treasury

  • Transfer revenue to the DAO based on reports produced

  • Provide support services to consumers of Pyth data pursuant to certain service-levels negotiated by Douro Labs and the consumers

  • Operate an initial sequencer that orders publisher price updates and an initial observer that aggregates ordered price updates and attests to the Pyth price. The DAO may choose in the future to elect additional sequencers and observers to provide these services

Proposed Pricing and Revenue Share

Douro Labs proposes that 60% of subscription revenues attributable to the Services to flow to the DAO. The remaining 40% would be retained by Douro Labs (and/or other distributors) for its distribution of the Services and to cover administrative fees. Douro Labs will execute payments to the DAO on monthly basis, by the last day of each month.

First Report

Douro Labs will report on execution progress no later than 10th of January 2026, with approximately quarterly reports following.

The DAO can decide to terminate the appointment at any time by super-majority vote.

Next Steps

1. DAO members vote on the CO-PIP (link)

2. if Approved, DL to start the commercialization of the subscription service to prospect institutions and projects

3. Douro Labs to report on progress by the date listed above