<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The grant is requested in the following manner:
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$1mn upfront grant to begin development. This is in line with our cost estimate of an individual non-evm parachin deployment.<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$1mn grant after development of the pallet is done, pre-audit<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$0.5mn after addressing any audit concerns and ensuring the pallet is ready for use <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> You can find all the details of the proposal here:&nbsp;
<a style="text-decoration: none;" href="https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing</a>
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Price feeds <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">for <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-dot-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">DOT</a><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-ksm-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KSM</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> and <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-astr-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">ASTR</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> are already live<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> to use across 35+ chains which Pyth is deployed on.
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The grant is requested in the following manner:
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$1mn upfront grant to begin development. This is in line with our previous cost of an individual non-evm parachin deployment.<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$1mn grant after development of the pallet is done, pre-audit<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">-$0.5mn after addressing any audit concerns and ensuring the pallet is ready for use <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> You can find all the details of the proposal here:&nbsp;
<a style="text-decoration: none;" href="https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing</a>
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Price feeds <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">for <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-dot-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">DOT</a><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-ksm-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KSM</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> and <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-astr-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">ASTR</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> are already live<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> to use across 35+ chains which Pyth is deployed on.
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

Pyth Network Pallet for Polkadot

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp;
<a style="text-decoration: none;" href="https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing</a>
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: #ffff00; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Added 19th October<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> - Price feeds <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">for <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-dot-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">DOT</a><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-ksm-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KSM</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> and <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-astr-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">ASTR</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> are already live<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> to use across 35+ chains which Pyth is deployed on.
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp;
<a style="text-decoration: none;" href="https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing</a>
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: #ffff00; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Added 19th October<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> - Price feeds for <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-dot-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">DOT</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> and <a style="text-decoration: none;" href="https://pyth.network/price-feeds/crypto-ksm-usd"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">KSM</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> are already live to use across 35+ chains.
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp;
<a style="text-decoration: none;" href="https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing</a>
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:
<span style="font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp;<span style="font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1VCMDLGYKbCrQvksgAqffvUpn6_pB1B0AaG9HD7EJg0A/edit?usp=sharing
<span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp; <a style="text-decoration: none;" href="https://docs.google.com/document/d/1m3T3jZPSRGWB9MHz-dFiXez8jYEE4Ow3MnBNH3H5Hig/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1m3T3jZPSRGWB9MHz-dFiXez8jYEE4Ow3MnBNH3H5Hig/edit?usp=sharing</a>
<h2 dir="ltr" style="line-height: 1.38; margin-top: 18pt; margin-bottom: 4pt;" role="presentation"><span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs</h2>
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs proposes building and deploying a Pyth pallet, allowing any Polkadot parachain to implement the Pyth oracle within its own runtime environment. Instead of natively integrating the Pyth oracle on individual parachains, a Pyth pallet provides economies of scale and coverage for all existing and future parachains, regardless of the virtual machine used. Deploying Pyth smart contracts on a single EVM-based parachain is straightforward, but managing multiple EVM-based parachains becomes cumbersome over time. Note that Pyth cannot currently be easily deployed on non-EVM-based parachains and deploying on individual non-EVM parachains would cost upwards of US$1mn each. By creating a Pyth pallet, the Pyth oracle becomes available on all Polkadot parachains and future management and upgrades are simplified. Therefore, a Pyth pallet for the entire Polkadot ecosystem creates a publicly available oracle network for the growing parachain ecosystem.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth price feeds utilize a "pull" price update model, in which users are responsible for posting price updates on-chain as needed. There are several advantages to using Pyth's oracle pull model, including gas efficiency, high update frequency, low latency, scalable and reliable infrastructure, and a sustainable economic model. For more information on using Pyth price feeds, please refer to the documentation<a style="text-decoration: none;" href="https://docs.pyth.network/documentation/pythnet-price-feeds/on-demand"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">here</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Pyth pallet will provide all parachains with all available products of the Pyth Network - Price Feeds (350+ and growing) and Benchmarks. The proposal asks for a one time upfront grant of US$2.5mn for Douro Labs to build and deploy the Pyth pallet. You can find all the details of the proposal here:&nbsp; <a style="text-decoration: none;" href="https://docs.google.com/document/d/1m3T3jZPSRGWB9MHz-dFiXez8jYEE4Ow3MnBNH3H5Hig/edit?usp=sharing"><span style="font-size: 11pt; font-family: Arial,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://docs.google.com/document/d/1m3T3jZPSRGWB9MHz-dFiXez8jYEE4Ow3MnBNH3H5Hig/edit?usp=sharing</a>
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth oracles are on-demand pull-based feeds that require payment of a Pyth fee for each transaction. This fee is collected in the native gas token of the chain, which solves the fee payment problem for a multi-chain ecosystem like Polkadot. This also provides tangible ongoing incentive for the oracle to continue supporting parachains which use Pyth oracle.
&nbsp;
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Pyth operates its own dedicated appchain called Pythnet, managed by the data providers. <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">On Polkadot, all parachains will receive aggregated outputs generated on Pythnet. This creates an oracle hub within the Polkadot ecosystem, ensuring that all parachains have access to the same high-quality data from a single source while abstracting away security concerns.
<h2 dir="ltr" style="line-height: 1.38; margin-top: 18pt; margin-bottom: 4pt;" role="presentation"><span style="font-size: 13.999999999999998pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">About Douro Labs</h2>
<p style="color: #000000; font-family: Poppins, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><a style="text-decoration: none;" href="https://www.businesswire.com/news/home/20230829666281/en/Douro-Labs-Launches-and-Joins-Pyth-Network-as-Core-Contributor?utm_campaign=shareaholic&amp;utm_medium=copy_link&amp;utm_source=bookmark"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Douro Labs</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> is a software development company dedicated to advancing the<a style="text-decoration: none;" href="https://pyth.network/"><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pyth Network</a><span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.
<span style="font-size: 11pt; font-family: Montserrat,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;

Pyth Network Pallet for Polkadot - Treasury Proposal

- Douro Labs wants to build a Pyth pallet for Polkadot parachains.
- The Pyth pallet will make it easier to use the Pyth oracle on all parachains.
- Users will be responsible for updating the prices on-chain.
- The proposal asks for a grant of $2.5 million for Douro Labs.
- Douro Labs is a company dedicated to advancing the Pyth Network.

#1955 Pyth Network Pallet for Polkadot

No Active Proposals