The Pyth Data Association proudly announces the launch of the Pyth Ecosystem Grants Program, with 50 million PYTH tokens allocated for eligible community members.
This initiative is designed to foster the development of the Pyth Network by encouraging educational, research, and development projects within the Web3 community. By focusing on three distinct grant categories—Community Grants, Research Grants, and Developer Grants—the program aims to drive significant growth and innovation throughout the Pyth ecosystem.
Program Overview
The Pyth Ecosystem Grants Program aims to incentivize contributions to the Pyth Network through its three main categories, each targeting a specific aspect of network growth and development. The grants will be distributed in both unlocked and locked PYTH tokens, sourced from the Ecosystem Growth tokenomics category, ensuring a comprehensive approach to enhancing the Pyth ecosystem.
Purpose of the Ecosystem Grants
The Pyth Network is revolutionizing decentralized finance by providing developers with access to low-latency, high-frequency, and high-fidelity price data, crucial for the creation of high-throughput on-chain applications. Currently, the Pyth Network powers over 350 applications across more than 55 blockchains and has facilitated over $400 billion in traded volume. Operated by the Pyth DAO, the network relies on a decentralized governance model to shape its future and better serve the DeFi space.
In a decentralized network, thoughtful incentives are essential for encouraging stakeholders to contribute to protocol development, educate new users, and inspire new contributors. The Pyth Ecosystem Grants Program aims to:
- Community Grants: Promote a welcoming and entrepreneurial environment within the Web3 community, fostering the creation of educational content, engaging discussions, and collaborative projects.
- Research Grants: Encourage research to enhance the Pyth oracle and drive adoption, focusing on exploring new network features, identifying areas for improvement, and generating productive insights.
- Developer Grants: Incentivize the development of new tools and integrations to support the Pyth protocol and its operations, driving innovation in decentralized finance.
Community Grants
The Pyth Network community is remarkably diverse, spanning over 55 chains and welcoming developers from ecosystems such as EVM, Solana, Move, Cosmos, and Bitcoin. This multi-cultural and multi-chain nature of the community fosters a unique social dynamic, enabling innovative ideas, cross-chain collaborations, and a welcoming environment for onboarding new Web3 participants.
Community Grants are designed to nurture an inclusive and passionate community space for all Pyth Network participants. These grants will support individuals and groups in co-creating unique and engaging content, participating in constructive discussions and social activities, and collaborating on educational, entertaining, or productive grassroots initiatives.
By promoting a vibrant and thoughtful community dynamic, the Pyth Network aims to spread awareness, educate new members, and establish an environment where participants can realize their full potential. These grants can help guide the community to produce valuable content, such as tutorials, guides, and explainer videos, which can serve as resources for newcomers and existing members alike.
Community members can also engage in social activities and events, both online and offline, to foster stronger connections and collaborations. Initiatives like hackathons, meetups, and webinars can provide platforms for knowledge sharing and innovation, further enriching the community experience.
Moreover, Community Grants can support projects that highlight the Pyth Network’s achievements and milestones, helping to build a positive narrative around the network’s growth and impact. By showcasing success stories and real-world applications of the Pyth Network, these projects can inspire others to join and contribute to the ecosystem.
Research Grants
Today, hundreds of protocols rely on Pyth Price Feeds, Benchmarks, and Entropy. Pyth Price Feeds provide over 500 price feeds updating at sub-second speeds on the Pythnet appchain. Benchmarks offer standardized, historical prices for precise settlements and chart visualizations, while Entropy provides a reliable source of randomness for creative and financial services.
Founded on applied research and innovation, the Pyth Network continually benefits from analysis and iteration. Developers, application users, and other participants often hold valuable insights into new features, upgrades, and ecosystem improvements.
Research Grants are designed to facilitate the exploration of new network features, areas for improvement, and productive insights to enhance the Pyth offerings. This category will focus on researchers and subject matter experts, with a structure based on bounties.
Eligible participants may include those with skills in:
- Quantitative and data-driven research.
- Blockchain infrastructure development.
- Proven community and educational leadership.
- High-quality content creation.
- Demonstrable Web3 business and commercial expertise.
Applications for Research Grants can be submitted at the Pyth Ecosystem Grants homepage. These grants will support a wide range of research activities, from theoretical studies to practical implementations, ensuring that the Pyth Network remains at the forefront of technological advancements.
Research topics might include improvements to the oracle’s accuracy and reliability, new mechanisms for data aggregation and dissemination, and innovative applications of Pyth data in decentralized finance and beyond. By funding diverse research projects, the program aims to generate a wealth of knowledge and solutions that can benefit the entire ecosystem.
Furthermore, Research Grants can support the publication of findings in academic journals and industry reports, helping to raise the profile of the Pyth Network within the broader blockchain and technology communities. These publications can also serve as valuable references for developers and researchers looking to build on the work of their peers.
Developer Grants
The Pyth Network has ushered in a new era of decentralized finance, enabling on-chain perpetual markets, structured products, derivatives platforms, and high-performance AMMs that rely on Pyth’s low-latency and high-resolution prices. Over 350 protocols currently use Pyth for their mission-critical services.
Despite ongoing innovation, the total number of active Web3 users remains small compared to the Web2 world. However, opportunities to transform the financial paradigm abound. The Pyth Network aims to power and enable the next generation of entrepreneurs seeking to disrupt and rebuild financial markets.
Developer Grants will focus on incentivizing the creation of new tools to support the protocol’s operations, innovative integrations with Pyth products, and other valuable development contributions. These grants are structured as bounties.
Eligible participants should possess skills in:
- Blockchain infrastructure or protocol development.
- Building and optimizing network infrastructure.
- DevOps practices and automation tools.
- Quantitative and data-driven approaches.
Applications for Developer Grants can be submitted at the Pyth Ecosystem Grants homepage. These grants will support a wide range of development activities, from building new applications and services to enhancing existing infrastructure and tooling.
Developer Grants can also fund the creation of open-source projects and developer resources, such as SDKs, APIs, and documentation, making it easier for others to build on the Pyth Network. By providing the necessary tools and support, the program aims to lower the barrier to entry for developers and encourage more innovation within the ecosystem.
Additionally, Developer Grants can support the development of integrations with other blockchain platforms and protocols, expanding the reach and utility of the Pyth Network. By fostering cross-chain collaborations, the program can help to create a more interconnected and resilient decentralized finance ecosystem.
Closing Remarks
Every contribution helps shape the Pyth Network’s trajectory and spearhead advancements for the broader DeFi ecosystem. The Pyth Data Association is launching the Pyth Ecosystem Grants Program to guide ecosystem members toward impactful development, research, and community initiatives. With 50 million PYTH tokens available through Community, Research, and Developer Grants, this program seeks to empower the Web3 community to drive the network’s growth and innovation.
For more information and to apply, please visit the Pyth Ecosystem Grants homepage. By participating in the grants program, community members can play a crucial role in the ongoing development and success of the Pyth Network, helping to build a more decentralized, transparent, and inclusive financial system for the future.
