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Pyth Network to Retire Pythnet Application Chain Later in 2026, Ends OIS Rewards

GateNews
Project Progress
PYTH-3.21%

Gate News message, April 23 — Pyth Network announced that Pythnet application chain will be retired later in 2026 following the passage of proposal OP-PIP-100, while proposal OP-PIP-103 has set the Oracle Integrity Staking (OIS) reward distribution rate to zero, marking the end of the OIS rewards mechanism that launched in late 2024 and attracted approximately 1 billion PYTH in cumulative staking.

The OIS staking and penalty mechanisms remain active, and current stakers can unstake and withdraw their funds at any time. Since its inception, Pyth Network’s PYTH reserve has purchased approximately 12 million PYTH through open market transactions.

Moving forward, the network will focus on Lazer, Pyth Pro, and data marketplace as core infrastructure components.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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