Announcements
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The 100% Rule: Every dollar the Pyth DAO earns now buys PYTH
The Pyth DAO is All In: every dollar it receives from Pyth products now goes to the PYTH Reserve, under one standing authorization.
The Pyth DAO has committed 100% of the funds it receives from Pyth products to its PYTH Reserve.
Pyth's distribution has been growing for four years. In 2026, some of the largest institutions are paying to use it.
Trading firms. Exchanges. Prediction markets. Banks. It took less than a year to build a $11.5M ARR Pyth data business, a number legacy providers took decades to reach. That makes Pyth one of the fastest growing financial data platforms in the world.
Today the DAO goes All In. Under OP-PIP-136, the Pyth DAO has committed 100% of the funds it receives from the Pyth products to accumulating PYTH in its reserve. As the demand for Pyth data grows, so does PYTH accumulation, with nothing in between.
The business behind All In
Pyth reached $11.5 million in overall ARR in September 2026, with a 86% quarter over quarter growth, and Pyth Indices reaching $1.81 million in fixed ARR.
The growth is coming from the parts of finance that are actually moving. RWA perpetuals, meaning perps on stocks, gold, oil and indices, are among the fastest-growing markets in crypto, and Pyth prices almost all of them. Over the past three months, more than 94% of tracked RWA perp volume has run on Pyth data, over $2 trillion in total this past quarter.
That share turns directly into revenue. Every venue listing a stock, metal or commodity perp needs a price that holds up when the home market is closed, and Pyth gets compensated for it. Trade[XYZ], Lighter, Kraken, Coinbase, Phoenix and many others run their perpetual markets on Pyth data. Regulated venues are now naming Pyth in their filings. In September, Kalshi named Pyth as the sole Source Agency in its filings for the gold and silver perpetuals on its CFTC-registered exchange. Days later, Coinbase named Pyth in its SEC filing for single-name equity perpetuals.
Prediction markets are following the same path. Kalshi and Polymarket both use Pyth prices for their up/down markets on stocks and commodities.
Pyth Indices are the fastest-growing product line in the network. 50 indices are now live across US equities, metals, oil, FX and thematic baskets. In September, Pyth added its first pre-IPO indices: OpenAI and Anthropic, two of the most closely watched private companies in the world, now have indicative price series on Pyth Terminal.*
The Data Marketplace is growing alongside them. Nasdaq now distributes Nasdaq Basic through it, and corporate actions for all US equities (splits, dividends, mergers, ticker changes and more) are now available on the same API as Pyth prices. Venues listing stocks onchain can buy the price and the events behind it from one place.
Every one of those relationships generates revenue, a share (60%) of which goes to the DAO for the products the DAO owns. Under All In, 100% of what the DAO receives from them goes to PYTH accumulation. The PYTH Reserve already holds 41 million PYTH.
What the DAO approved
The Pyth DAO has held a PYTH Reserve since December 2025, built through monthly purchases on the open market. Until now, each month's transfer was sized at one third of the DAO's non-PYTH balance and required its own vote.
OP-PIP-136 does two things.
It strengthens the commitment. The DAO now directs 100% of the funds it receives from the Pyth products towards PYTH purchases. The authorization also covers the non-PYTH assets already held by the DAO.
A DAO that earns should own the network it governs. Every token the DAO accumulates is capacity: capacity to fund contributors, back builders and support the work that keeps Pyth growing. This is a commitment to the network, made in the network's own token.
How All In works
Before | All In | |
|---|---|---|
What the DAO commits | One third of its non-PYTH treasury balance, each month | 100% of the funds it receives from the Pyth products |
Products covered | Whatever had accrued to the treasury | Pyth Pro subscriptions, Listing as a Service, Data Marketplace, Pyth Indices |
Authorization | A DAO vote for every monthly transfer | One standing authorization, approved in OP-PIP-136 |
Existing assets | Not in scope | Non-PYTH assets already held by the DAO follow the same path |
Execution guardrails | 5% slippage cap, $25,000 per transaction, aggregator routing, public proofs, monthly reporting | Unchanged |
Funds that reach the DAO as PYTH go directly to the Reserve. Funds that reach it as stablecoins go to a pre-authorized council, which exchanges them for PYTH on the open market following a defined set of execution instructions, then transfers the PYTH to the DAO Treasury.
What this changes for the DAO
Under the previous framework, the DAO voted on every monthly transfer. Twelve proposals a year, put to quorum and executed, all to authorize something the DAO had already decided to do.
The standing authorization removes that overhead, improves execution, and it scales.
On the oversight front, nothing changes. Every acquisition is still onchain, reported monthly, carried out under the same guardrails. What goes away is a recurring vote that added cost and delay without changing the outcome.
What happens next
Following the approval of OP-PIP-136, the first acquisitions under the new authorization were executed on September 30th. You can track the Reserve live here, where the monthly acquisition, the total PYTH held (42 million) and the transaction links sit on one page.
"Market data has been sold the same way for forty years: expensive, fragmented, and out of reach for anyone without a procurement team. Pyth changed who can get it, and institutions are paying because the product is better. The DAO committing all of it to the Reserve is the strongest alignment this network has had: the people using Pyth, the people building it and the people governing it are now all pulling on the same rope.” — Mike Cahill, CEO of Douro Labs and core contributor to Pyth Network.
Pyth is All In.
Under OP-PIP-136, the Pyth DAO now commits 100% of the funds it receives from Pyth products to buying PYTH on the open market, up from one third of its non-PYTH balance. One standing authorization replaces the monthly vote. The guardrails stay the same, and every acquisition is still published onchain and reported monthly.
