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Pyth Council Voting Underway: Meet the Candidates Shaping the Oracle Network

The Pyth Council election is a key milestone in Pyth's governance evolution. Learn about the candidates and the impact this election will have on the network.

February 22, 2024 by Sheldon

The Pyth Network, the Largest First Party Oracle Network, is holding its inaugural council elections. This marks a significant milestone in the project's journey towards a fully decentralized governance model. $PYTH token holders now have the power to shape the network's future by electing the representatives who will form the Pythian Council.

What is the Pythian Council?

The Pythian Council comprises 8 members entrusted with significant operational responsibilities within the Pyth DAO. These responsibilities include upgrading network programs, establishing fees, managing validator incentives, and more. Council actions require a 7-of-9 multi-signature approval, ensuring robust security.

Meet the Candidates

Seven candidates with a diverse range of skills and backgrounds are vying for positions on the Pythian Council:

  • Shu Tsu Wei (HMX): A significant Pyth Price Feed user focusing on Oracle stability, feedback improvement, and incentive programs.

  • Afif Bandak (Synthetix): A long-term Synthetix contributor with deep expertise in on-chain derivatives and Oracle systems.

  • Naive: A self-described Pyth Ambassador motivated by a strong belief in the project's infrastructure.

  • Marc Tillement (Pyth Data Association): Aims to represent Pyth Data Association a key stakeholder and guide the network towards complete decentralization.

  • Travis Skweres (Vela Exchange): Co-founder of a major Pyth data consumer and active price publisher, heavily invested in Pyth's success.

  • Nope (Solend): Solend CTO emphasizing feed safety and quality, plus involvement in advising on Pyth features.

  • Antoine Bellanger (SwissBorg): Senior DeFi Engineer, contributing FX and crypto data while fostering a wider SwissBorg-Pyth partnership.

The Pyth Council election is a crucial step in the evolution of the Pyth Network. The elected council will play a vital role in driving the network's growth, security, and adoption. It also sets the stage for further decentralization as Pyth continues to mature.

The Pyth council election comes at a time of increasing momentum for DAO governance in the Solana ecosystem. Jupiter, a leading aggregator on Solana, has also made significant strides in its DAO establishment. These developments highlight the growing importance of decentralized decision-making within Solana's thriving DeFi landscape.

 

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