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How to participate in Pyth on-chain proposal voting?

Read this article in 6 Minutes

On-chain proposal voting starts today and lasts for seven days.

Original Title: "Pyth Governance System Voting Guide"

Original Source: Pyth Network

In November 2023, #PythNetwork launched its permissionless mainnet, laying the foundation for on-chain voting, Pyth governance, and community-led decision-making.

Your opinion is crucial to shaping the development trajectory of the Pyth protocol and ecosystem.

By staking PYTH in the official staking system, you can obtain on-chain voting rights. Your voting rights enable you to help guide the direction of Pyth Network.

Importance of Participating in Governance

Governance is the fundamental pillar for the future development and ecosystem growth of Pyth. A community-led governance system can drive innovation, ensure network security, and help coordinate the interests of different members of the Pyth Network stakeholder community.

Pyth Governance System will be responsible for helping to make decisions:

· The size, duration, and amount of fees for the oracle.· On-chain reward structure for data publishers.

· The feeding price data that has been launched and the data publishers that support them.

Your participation and voting are crucial to the decision-making on these issues.

Participating in Pyth DAO Governance on Realms

Community members can participate in Pyth governance through the Pyth DAO Realms platform.

Here, you will find a list of on-chain proposals, along with their time and status. The Realms interface allows users to easily search, filter, and sort on-chain proposals.

You can select a proposal to view its detailed information, real-time vote count, and current status. You can also view and participate in discussions.

The voting interface displays your voting status, current results, and voting requirements for proposals, such as type, duration, and the number of required votes to pass the proposal.

Proposal Voting Program

The on-chain proposal will be voted on within seven days, starting from a new epoch (Thursday 00:00 UTC) and ending at 23:59 UTC on the following Wednesday.

During this period, you can vote at any time.

投出你的一票 -> Vote for your choice

Once the proposal enters the "voting" stage, PYTH token stakers will be able to participate. First, please log in to the Pyth DAO Realms page.

Connect your wallet using the button in the top right corner

Connect your SPL (Solana) wallet. Find and click the "Connect Wallet" button. A pop-up window will guide you to select the SPL wallet that holds PYTH tokens.

Next, select a proposal from the proposal list to view its detailed information page. On this new page, you can vote to support (Yes) or reject (No) the proposal.

Please vote in the upper right corner.

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投票结果

Vote Results

At the end of this epoch, the approved proposals will be fully executed and implemented. Any on-chain operations in the deployment plan will be automatically executed in this step.