Source: Pyth Network
In November 2023, #PythNetwork launched a permissionless mainnet, laying the foundation for on-chain voting, Pyth governance, and community-led decision-making.
Your opinions are critical in shaping the trajectory of the Pyth protocol and ecosystem.
By staking PYTH in the official staking system, you can obtain on-chain voting rights. Your vote gives you the power to help guide the direction of the Python Network.
Governance is a fundamental pillar for the future development of Pyth and the growth of the ecosystem. A community-led governance system drives innovation, secures the network, and helps coordinate the interests of diverse members of the Pyth Network stakeholder community.
The Pyth governance system will be responsible for helping determine:
· The size, duration, and amount of oracle fees.
· On-chain reward structure for data publishers.
· Online price feed data and the data publishers that support them.
Your participation and vote are critical to decisions on these issues.
Community members can participate in Pyth governance through the Pyth DAO Realms platform.
Here you will find a list of on-chain proposals, marked with time and status. The Realms interface allows users to easily search, filter and sort on-chain proposals.
You can select a proposal to see its details, real-time vote count and current status, as well as view and participate in discussions.
The voting interface shows your voting status, current results, and voting requirements for the proposal, such as type, duration, and quorum required to pass the proposal.
On-chain proposals will be voted on within seven days, starting with a new epoch (Thursday 00:00 UTC) and ending on the following Wednesday at 23:59 UTC.
You can vote at any time during this period.
Once a proposal enters the “voting” phase, stakers of PYTH tokens will be able to participate. First, please log in to the Pyth DAO Realms page.
Connect your wallet using the button in the upper right corner
Connect your SPL (Solana) wallet. Find and click the "Connect Wallet" button. The pop-up will direct you to select the SPL wallet that holds PYTH tokens.
Next, select a proposal from the proposal list to view its details page. In this new page, you can vote for (Yes) or reject (No) the proposal.
Please vote in the upper right corner
At the end of this epoch, the passed proposals will be fully implemented and implemented. Any on-chain operations in the deployment plan will be performed automatically during this step.
Pyth Network is a decentralized oracle (essentially a service that connects blockchains with real-world data) that brings real-time financial indicators such as stock, cryptocurrency, and commodity prices to the blockchain.
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Cointelegraph