Prop 508: Upload Pyth contract
Passing this proposal will upload the Pyth core contract to the Osmosis chain.
## Details
Pyth Network is an oracle that publishes financial market data to multiple blockchains. The data is sourced from over 80 first-party data providers, including some of the largest exchanges and market making firms worldwide. Pyth provides real-time price feeds — updating once per second — for 200+ assets including crypto, equities, FX and more.
The Pyth contract allows applications on Osmosis to consume Pyth prices. Pyth is using a pull update mechanism where the network generates a stream of signed price updates, and anyone can pull those updates on-chain when they need them. The Pyth contract facilitates this process: it verifies price updates (for a minimal fee) and allows other programs to read the current price.
The contract is controlled by Pyth governance via Wormhole. The contract will be its own owner, but can accept Wormhole messages from Pyth governance to set configuration parameters. Pyth is currently governed by a multisig of members of the Pyth Data Association.
Pyth uses Wormhole to verify incoming governance or price feed update messages. It needs a wormhole contract to be deployed on chain. Since Wormhole is not on Osmosis currently, we will also be deploying the core wormhole contract that will be used for read-only purposes. The contract will be its own owner, but can accept messages from Wormhole governance to set configuration parameters.
## Contract information (Pyth):
The release for the contract is available at - https://github.com/pyth-network/pyth-crosschain/releases/tag/pyth-cosmwasm-contract-v1.2.0
The git commit Id - https://github.com/pyth-network/pyth-crosschain/tree/0ac771266c90864237a9e8f2c596c5be3318958c
The code can be found at - https://github.com/pyth-network/pyth-crosschain/tree/0ac771266c90864237a9e8f2c596c5be3318958c/target_chains/cosmwasm/contracts
Compiler Version - cosmwasm/workspace-optimizer:0.12.11
Checksum - 9ac1f9a70316c09ff4e1c25e36499a02b9f46ed60486b10164f5bd4b7c0a0cac pyth_cosmwasm.wasm
Commonwealth Thread: https://commonwealth.im/osmosis/discussion/11242-proposal-upload-pyth-network-contract