TL;DR:
- Pyth Network is retiring Pythnet and closing OIS reward emissions, shifting focus to Lazer, Pro and the Data Marketplace.
- The economic model moves from subsidized emissions to monthly open-market token purchases funded by real protocol revenues.
- Since the PYTH Reserve began operating, the protocol’s DAO has acquired approximately 12 million tokens through this buying mechanism.
Pyth Network announced a transition phase in its infrastructure and economic model. The network is retiring Pythnet, the appchain that has powered its price feeds since 2021, and ending reward emissions from the Oracle Integrity Staking (OIS) program. Both changes were formalized through proposals OP-PIP-100 and OP-PIP-103, approved by the DAO in recent days.
The closure of OIS stems from technical and strategic reasons. The program was launched in late 2024 with an allocation of 100 million tokens from the Pyth Data Association, intended to incentivize the data quality provided by publishers. That rewards pool is set to be depleted by the end of April 2026.
Proposal OP-PIP-103 establishes setting the reward rate parameter (Y) to zero before the fund runs dry, thereby avoiding an accounting inconsistency between the on-chain state and actual balances. Throughout the entire life of the program, no slashing proposal was submitted to the Pyth DAO, reflecting consistent publisher performance. Staking and slashing functions remain active.
Lazer, Pyth Pro and the Data Marketplace
The new infrastructure is Pyth Lazer, designed to deliver lower latency, broader asset coverage and institutional distribution. Two core products operate on that foundation. Pro, which unifies more than 3,000 price feeds — across equities, futures, ETFs, commodities, currencies, cryptocurrencies and fixed-income instruments — delivered to traditional financial firms through standard APIs on a subscription pricing model. The Data Marketplace, in turn, incorporates exclusive datasets from institutions such as Euronext FX, Fidelity Investments, Tradeweb, SGX FX and OTC Markets Group, among others.
Adoption of these products has been largely driven by inbound demand, an unusual dynamic in the institutional data market. Recent integrations include Polymarket, Kalshi, Coinbase, OKX, BitMEX and Bitget.
An Economic Engine Built on Real Revenue
The deepest shift is in the economic model. For several months, the PYTH Reserve has been converting protocol revenues into monthly token purchases on the open market, executed by the DAO treasury. Approximately 12 million tokens have been acquired through this mechanism to date. Revenues come from Pro, Core, Entropy, Express Relay and the Marketplace. Each month, the DAO allocates one third of its treasury balance to these acquisitions.
