Pyth Network to Transition Infrastructure and Token Economics

Pyth Network has announced plans to revamp its infrastructure and token economics. According to NS3.AI, the PYTH Reserve has repurchased approximately 12 million PYTH using protocol revenue. The current Pythnet will be gradually phased out by 2026 as the focus shifts to developing the next-generation network, Lazer. Additionally, the OIS staking reward mechanism will be discontinued by setting parameter Y to 0, although the security slashing mechanism will continue to be enforced.