BlockBeats report: On April 23, Pyth Network announced an infrastructure upgrade and a transition to a revenue-based economic model. Under proposal OP-PIP-100, Pythnet will be gradually phased out within 2026, with the network’s focus shifting to the next-generation infrastructure, Lazer, while Pyth Pro and the Data Marketplace will become the core products moving forward.
Meanwhile, the OIS reward mechanism will be gradually phased out via OP-PIP-103, with parameter Y set to 0, marking the end of reward distributions, while the staking and slashing mechanisms will continue to operate. During the OIS period, approximately 1 billion PYTH were staked across around 120 data provider pools, with no slashing proposals ever submitted.
Under the new model, Pyth is transitioning from token incentive-driven to revenue-driven growth. The PYTH Reserve has repurchased approximately 12 million PYTH tokens on the open market using protocol revenue. Revenue sources include Pyth Pro, core oracle services, and the data marketplace. With increasing institutional adoption from platforms such as Polymarket and Kalshi, as well as multiple exchanges, the network’s focus has fully shifted toward commercialization and data distribution capabilities.