A Binance-Listed Altcoin Has Announced a Major Update

Cryptocurrency data infrastructure provider Pyth Network (PYTH) announced a radical change in its economic model, shifting to a revenue-driven growth strategy.

According to the statement, the project will accelerate infrastructure investments while moving away from a token-based incentive model and focusing on sustainable revenue generation.

According to Pyth’s OP-PIP-100 proposal, the existing network infrastructure, Pythnet, is planned to be phased out gradually by 2026. During this process, the network’s focus will shift to Lazer, a next-generation infrastructure solution. Furthermore, Pyth Pro and Data Marketplace products, which offer data services for enterprise use, will be positioned at the center of the ecosystem.

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On the other hand, it was announced that the OIS reward mechanism will also be phased out gradually under OP-PIP-103. Reward distribution will completely cease once parameter Y is reduced to zero. However, it was stated that staking and penalty mechanisms will continue to operate. It was reported that approximately 1 billion PYTH tokens were staked during the OIS process, covering approximately 120 data provider pools, and that no new staking proposals were offered during this period.

With the new economic model, Pyth is shifting from growth based on token incentives to a revenue-generating structure. In this context, it has been reported that PYTH Reserve has repurchased approximately 12 million PYTH tokens from the open market through protocol revenues. Revenue sources include Pyth Pro services, core oracle services, and the data marketplace.

*This is not investment advice.

Continue Reading: A Binance-Listed Altcoin Has Announced a Major Update