diff --git a/apps/developer-hub/content/docs/meta.json b/apps/developer-hub/content/docs/meta.json index 1baa39dab6..907fd41d77 100644 --- a/apps/developer-hub/content/docs/meta.json +++ b/apps/developer-hub/content/docs/meta.json @@ -1,3 +1,3 @@ { - "pages": ["price-feeds", "entropy", "express-relay"] + "pages": ["pyth-core", "pyth-token", "express-relay", "entropy"] } diff --git a/apps/developer-hub/content/docs/pyth-token/index.mdx b/apps/developer-hub/content/docs/pyth-token/index.mdx new file mode 100644 index 0000000000..938bf746a8 --- /dev/null +++ b/apps/developer-hub/content/docs/pyth-token/index.mdx @@ -0,0 +1,36 @@ +--- +title: PYTH Token +description: The governance token of the Pyth Network +--- + +The Pyth Network, as a distributed system, needs to have a constitution and a clear governance system. + +PYTH is the governance token of the Pyth Network, and the [Pyth DAO constitution](https://github.com/pyth-network/governance/blob/main/docs/constitution/pyth-dao-constitution.md) is the governance framework for the Pyth DAO. The constitution outlines the rules and procedures of the Pyth DAO. These rules and procedures are generally enforced through on-chain contracts and the associated parameters, unless specified by the Pyth DAO for actuation off-chain. + +## PYTH Token Staking + +PYTH Token can be staked for Governance and Oracle Integrity. + +### 1. Staking PYTH for Governance + +PYTH token holders can participate in Pyth governance through [staking](https://staking.pyth.network/) and [governance](https://app.realms.today/dao/PYTH). Token holders use their staked tokens in the Pyth staking program to vote on community governance proposals. + +Governance uses a 1:1 coin-voting system, where each staked token confers one vote. + +Any PYTH Token holder can submit proposals to the Pyth DAO as long as they have **0.25%** of the total PYTH tokens staked. +At the end of the **7 day** voting period, a proposal is passes if it meets the following conditions: + +- **More yesses** have been cast than nos. +- The "**Approval Quorum**" has been met. \ + **Approval Quorum** is a percentage of staked PYTH tokens that must have voted yes for the proposal to pass. "Community Vote Threshold Percentage" is expressed as percentage of staked tokens at the start of the voting period for the proposal. This percentage threshold can vary depending on the type of proposal. The current threshold can be found in the "Governances" sections of the [parameters of the DAO](https://app.realms.today/dao/PYTH/params). + +Please note that the scope of community governance proposals may be expanded if the PYTH token holders (or the Pyth DAO) decide so. + +### 2. Staking PYTH for Oracle Integrity + +The Pyth Network is built to provide decentralized applications with reliable and trustworthy data. The quality of the data it provides is paramount for these application's functions and the network's overall success. + +Pyth's [Oracle Integrity Staking (OIS)](./oracle-integrity-staking) concentrates on producing quality data in the hands of a limited set of semi-trusted entities to achieve more coverage and lower latency than the competition. The responsibility of publishers over data quality is not just ethical but also incentivized through economics: + +- **Staking and Slashing:** Publishers can self-stake PYTH tokens as collateral. It also allows other stakers to choose publishers to delegate their PYTH tokens. In the event of data inaccuracies or inconsistencies, a portion of this stake can be slashed as a penalty. This mechanism ensures that publishers have a vested interest in providing accurate data +- **Reputation:** The reputation of data publishers is directly linked to the quality of data they provide. Publishers with a track record of providing accurate data are more likely to be trusted and attract more interest. diff --git a/apps/developer-hub/content/docs/pyth-token/meta.json b/apps/developer-hub/content/docs/pyth-token/meta.json new file mode 100644 index 0000000000..7201a22e71 --- /dev/null +++ b/apps/developer-hub/content/docs/pyth-token/meta.json @@ -0,0 +1,4 @@ +{ + "title": "PYTH Token", + "pages": ["index", "pyth-distribution", "pyth-token-addresses"] +} diff --git a/apps/developer-hub/content/docs/pyth-token/pyth-distribution.mdx b/apps/developer-hub/content/docs/pyth-token/pyth-distribution.mdx new file mode 100644 index 0000000000..fc0aa28527 --- /dev/null +++ b/apps/developer-hub/content/docs/pyth-token/pyth-distribution.mdx @@ -0,0 +1,74 @@ +--- +title: PYTH Token Distribution +description: Details about PYTH token distribution and lockup schedules +--- + +There is a total of 10,000,000,000 (10B) PYTH tokens existing. + +The initial circulating supply (November 2023) was 1,500,000,000 (15%) PYTH. And the remaining supply (85%) are initially locked and locked tokens will unlock 6, 18, 30 and 42 months after the initial token launch. + +**PYTH Lockup Schedule** + +![PYTH Lockup Schedule](/images/token/Pyth_Lockup_Schedule.png) + +## Token Distribution + +Below is the PYTH Token distribution table as per the whitepaper. + +![Token Distribution](/images/token/Token_breakdown.png) + +## Publisher Rewards + +22% — 2,200,000,000 PYTH + +This allocation is reserved for the Pyth Network data providers, or "publishers". + +The publishers are responsible for publishing price data to the Pyth Network. The "Publisher Rewards" allocation consists of reserved tokens for various reward mechanisms and grant programs to encourage publishers to publish accurate and timely price data. + +This is designed to encourage more publishers to support new symbols which may lack the initial popularity or liquidity for the network to launch immediately. + +~2% (50M) of the 2.2B PYTH Tokens are unlocked. The remaining PYTH Tokens (2.15B) are subject to the lockup schedule described above. Note that these rewards can only be distributed to publishers once they are unlocked. + +![Publisher Rewards Lockup Schedule](/images/token/PYTH_Publisher_Rewards_Lockup_Schedule.png) + +## Ecosystem Growth + +52% — 5,200,000,000 PYTH + +The "Ecosystem Growth" allocation is a strategic portion of tokens set aside for contributors to the Pyth Network, including developers, educators, researchers, strategic contributors, early publishers, and more. + +This allocation aims to facilitate practical initiatives including funding research projects aimed at advancing the Pyth Network, incentivizing developers to build complementary tooling and resources, and supporting public education programs to increase awareness. This allocation aims to recognize and reward individuals and organizations that go beyond the contributors in fostering the expansion and vitality of the Pyth Network. + +13% (700M) of the 5.2B PYTH Tokens are unlocked. The remaining tokens (4.5B) are subject to the unlock schedule described above. + +![Ecosystem Growth Lockup Schedule](/images/token/PYTH_Ecosystem_Growth_Lockup_Schedule.png) + +## Protocol Development + +10% — 1,000,000,000 + +This portion of the token supply has been allocated to contributors focused on building oracle tooling, products, and infrastructure to expand the network's suite of decentralized data services. + +15% (150M) of the 1B PYTH Tokens are unlocked. The remaining tokens (850M) are subject to the unlock schedule described above. + +![Protocol Development Lockup Schedule](/images/token/PYTH_Protocol_Development_Lockup_Schedule.png) + +## Community and Launch + +6% — 600,000,000 + +This portion of PYTH Tokens is set aside for the initial launch phase and related activities and initiatives. 41% (250M) of the 600M PYTH tokens were allocated to DeFi Participants (of an application that use Pyth data) ; 16% (100M) of the Community and Launch bucket are directly assigned to protocols and DAOs ; and the rest (250M) was used for other launch activities. + +All 600M PYTH Tokens of "Community and Launch" allocation are unlocked from day one. + +![Community and Launch Lockup Schedule](/images/token/PYTH_Community_Launch_Lockup_Schedule.png) + +## Private Sales + +10% — 1,000,000,000 + +This category represents two historical funding rounds to strategic contributors who add value to the network in terms of advisory and infrastructure support. + +All of 1B PYTH Tokens are locked and subject to the unlock schedule described above. + +![Private Sales Lockup Schedule](/images/token/PYTH_Private_Sales_Lockup_Schedule.png) diff --git a/apps/developer-hub/content/docs/pyth-token/pyth-token-addresses.mdx b/apps/developer-hub/content/docs/pyth-token/pyth-token-addresses.mdx new file mode 100644 index 0000000000..aac411cc70 --- /dev/null +++ b/apps/developer-hub/content/docs/pyth-token/pyth-token-addresses.mdx @@ -0,0 +1,30 @@ +--- +title: PYTH Token Contract Addresses +description: Official PYTH token contract addresses across different blockchain networks +--- + +import CopyAddress from "../../../src/components/CopyAddress"; + +The PYTH token is a native Solana token following the SPL model. Through the use of permissionless bridges like Wormhole, (wrapped) PYTH tokens may exist on various other chains. + +Below is the list of all official PYTH token representation on various blockchains: + +## Networks + +| Network | Token address | +| --------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | +| Solana | | +| Ethereum | | +| Arbitrum | | +| Optimism | | +| Fantom | | +| Base | | +| BNB Chain | | +| Polygon | | +| Avalanche | | +| Manta | | +| Aptos | | +| Sui | | +| Injective | | +| Sei | | +| NEAR | | diff --git a/apps/developer-hub/public/images/token/PYTH_Community_Launch_Lockup_Schedule.png b/apps/developer-hub/public/images/token/PYTH_Community_Launch_Lockup_Schedule.png new file mode 100644 index 0000000000..fccd2f0b5a Binary files /dev/null and b/apps/developer-hub/public/images/token/PYTH_Community_Launch_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/PYTH_Ecosystem_Growth_Lockup_Schedule.png b/apps/developer-hub/public/images/token/PYTH_Ecosystem_Growth_Lockup_Schedule.png new file mode 100644 index 0000000000..db1f67f11f Binary files /dev/null and b/apps/developer-hub/public/images/token/PYTH_Ecosystem_Growth_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/PYTH_Private_Sales_Lockup_Schedule.png b/apps/developer-hub/public/images/token/PYTH_Private_Sales_Lockup_Schedule.png new file mode 100644 index 0000000000..d3ed14a52e Binary files /dev/null and b/apps/developer-hub/public/images/token/PYTH_Private_Sales_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/PYTH_Protocol_Development_Lockup_Schedule.png b/apps/developer-hub/public/images/token/PYTH_Protocol_Development_Lockup_Schedule.png new file mode 100644 index 0000000000..061cd28060 Binary files /dev/null and b/apps/developer-hub/public/images/token/PYTH_Protocol_Development_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/PYTH_Publisher_Rewards_Lockup_Schedule.png b/apps/developer-hub/public/images/token/PYTH_Publisher_Rewards_Lockup_Schedule.png new file mode 100644 index 0000000000..85e02bbcfd Binary files /dev/null and b/apps/developer-hub/public/images/token/PYTH_Publisher_Rewards_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/Pyth_Lockup_Schedule.png b/apps/developer-hub/public/images/token/Pyth_Lockup_Schedule.png new file mode 100644 index 0000000000..f3d1e8b045 Binary files /dev/null and b/apps/developer-hub/public/images/token/Pyth_Lockup_Schedule.png differ diff --git a/apps/developer-hub/public/images/token/Token_breakdown copy.png b/apps/developer-hub/public/images/token/Token_breakdown copy.png new file mode 100644 index 0000000000..7315871e3d Binary files /dev/null and b/apps/developer-hub/public/images/token/Token_breakdown copy.png differ diff --git a/apps/developer-hub/public/images/token/Token_breakdown.png b/apps/developer-hub/public/images/token/Token_breakdown.png new file mode 100644 index 0000000000..7315871e3d Binary files /dev/null and b/apps/developer-hub/public/images/token/Token_breakdown.png differ