Guide for the 5th Pythian Council Election

1. What is the Pythian Council?

As defined in the adopted Pyth DAO Constitution, the Pythian Council is made of 8 members who are signers of the Pythian Multisig Wallet. The Pythian Multisig Wallet has powers to perform actions that are delegated to it by the Pyth DAO. The composition of the Pythian Council should be geographically diverse in furtherance of the ethos, mission and guiding values of the Pyth DAO.

The Operational PIPs delegated to the Pythian Council involve:

• The upgrade of the oracle program

• The upgrade of the verification program for each of the blockchains where Pyth data or Lazer data are accessible

• The setting of data request fees per blockchain, as well as other protocol or network fees

• The management of PGAS allocation and delegation to validators

• The upgrade of the Express Relay (ER) program for each of the blockchains where ER is available

• The assignment of the relayer function for ER and monitoring of the performance of such assignment

• The setting of the ER fee distribution

• The upgrade of the Entropy program for each of the blockchains where Entropy is available

• The setting of Entropy request fees for each of the blockchains where Entropy is available

• The setting of pool capacity parameters in Oracle Integrity Staking (OIS)

• The setting of delegation fee for stake delegators in OIS

• The determination of slashing amounts from the amount staked in OIS in compliance with the slashing rules and procedures defined by the DAO

• The formal objection to a publisher to the Pyth Data Marketplace onboarding pursuant to the Marketplace Governance Process

The execution of such actions by the Pythian Council requires 7-of-9 approval (with one of the default multisig holders being the Operations Wallet itself). The on-chain submission of a PIP using the Operations Wallet carries one vote in favour of the PIP.

The first-ever Pythian Council was elected in March 2024. Subsequent elections have been held every 6 months:

• 1st Election — March 2024

• 2nd Election (OP-PIP-52) — October 2024

• 3rd Election (OP-PIP-73) — April 2025

• 4th Election (OP-PIP-84) — November 2025

2. The 5th Pythian Council

According to the Pyth DAO constitution, the 4 members (out of 8) to remain in the next Pythian Council are selected given the following cascading criteria (the Election Criteria):

• The shorter tenure till the date of the election;

• In the case of equal tenure, the member with the higher amount of votes in the last election;

• In the case of equal tenure and equal amounts of votes, the member with the higher count of multisig participations unless such member decides to step down from the Pythian Council.

Any Council member who has voted less than 1/3 of the proposals during the term will be excluded from re-election.

You can find the table recapping all the Pythian Council proposals here.

Current Council #4 Members

Member	Organization	Tenures	Participation	Status
Jayant Krishnamurthy	Douro Labs	4	61.54%	Up for election
Marc Tillement	Pyth Data Association	4	92.31%	Up for election
Ivo Galic	Trebuchet Network	3	46.15%	Up for election
George M	XBTO	2	69.23%	Auto re-elected
Yaser Jazouane	Douro Labs	2	53.85%	Auto re-elected
GrizzlyLand	Pyth Network Chiron	1	76.92%	Auto re-elected
dr497	Accretion	1	15.38%	Up for election*
Frozenmind	Pythenians	1	84.62%	Auto re-elected

*dr497 would have been eligible for automatic re-election based on tenure, but participation fell below the 33% threshold required by the constitution.

Re-election Summary

With dr497 excluded due to insufficient participation, the 4 members to remain are selected from the 7 eligible members using the Election Criteria (shorter tenure first):

• GrizzlyLand and Frozenmind (1 term each) — automatically re-elected

• George M and Yaser Jazouane (2 terms each) — both automatically re-elected to fill the remaining 2 spots

Therefore, the 5th Pythian Council Election must elect 4 new council members.

3. Call for Candidates

We encourage all qualified community members to consider running for the Pythian Council.

In previous elections, we’ve sometimes had fewer candidates than available seats. A healthy election benefits from a competitive field — it gives PYTH stakers meaningful choices and strengthens the legitimacy of the elected council.

Who should apply?

• Active contributors to the Pyth ecosystem

• Individuals with relevant technical, governance, or operational experience

• Representatives of protocols, companies, or communities that rely on Pyth

• Anyone committed to the long-term success of Pyth Network

If you’ve been involved with Pyth — as a publisher, integrator, community member, or in any other capacity — and want to help shape its governance, we want to hear from you.

4. How to Submit Your Candidacy

Election of the Pyth DAO councils is a two-step process:

1. Nominate yourself on the Pyth forum by creating a new topic under the Pythian Council segment — nominations must follow the template below. This first step must be done by Sunday, May 24, 2026.:

   1. Candidacy Template

   Topic Title: [Pythian Council Election #5], Candidate name, Protocol/Team/Company

   Required Information:

   • Wallet address (SPL/Solana):

   • Describe how you will custody your private key (hardware wallet, MPC provider such as Fireblocks, etc):

   • Name of Candidate • Full Name:

   • Twitter handle:

   • Discord handle:

   • Github handle:

   • Current Role / Ecosystem

     • Title:

     • Company name (if applicable) or Protocol:

   • Main Location • Continent:

   • Motivations to participate in the Pythian Council:

     • … • … • …

   • Relevant Experience:

     • … • … • …

2. On Monday, May 25, 2026, a multi-choice proposal will be created on Realms where all nominees will be listed.

The voting will last for one full week until Monday, June 2, 2026.

5. What is the Timeline for the Council Formation?

6. Stipend

Each elected council member will receive a stipend of 12,500 PYTH for their 6-month term.

References

• Pyth DAO Constitution

• 4th Pythian Council Members

• OP-PIP-84 (4th Council Approval)

• Multisig Participation Tracking