Pyth LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/pyth-network-ltipp-application-draft/22003

Council - 3/3 Yes Votes

Feedback

GFX Feedback) Improving oracle diversity on a chain increases the resilience of the ecosystem, not only because protocols have more choices of oracle provider, but also because protocols can use combinations of oracle providers for different risk profiles, asset types, and as failsafes in the event of a primary oracle failure. This grant plan’s main weakness is the large spend. The cost per additional oracle is considerably higher than other oracle provider grant applications. Pyth, however, has a demonstrated ability to gain adoption on Arbitrum, and also provide more exotic or esoteric oracle feeds by virtue of the sheer number of feeds. On balance, the benefits of having a competitive oracle ecosystem on Arbitrum and Pyth’s track record with working within the ecosystem outweighs the scoring penalties from the large size of the request.

GMX Feedback) Pyth's application is undoubtedly beneficial for the ecosystem, although the grant size is considerable. While we support this application, we suggest exploring the possibility of reducing the requested amount. Having a diverse range of proven oracles within the Arbitrum ecosystem is immensely advantageous, particularly in light of numerous complaints about the high costs associated with other oracle services. Pyth boasts a proven track record and is poised to provide immediate benefits to the ecosystem upon integration. Despite the sizeable grant, the allocated ARB will be utilized for gas fee rebates, directly benefiting the ecosystem.

404 Feedback) Very large grant size, but echo the sentiments of the other reviewers - Pyth has shown strong traction on Arbitrum and it is beneficial to have competing oracle ecosystems.