Prop 341: Hermes Price Relayer Operations – Foundation AKT Funding Request
Hermes Price Relayer Operations – Foundation AKT Funding Request
Summary
The Decentralized Cloud Foundation is requesting 230,557.40 AKT to fund gas costs and operations, covering the period from March 19, 2026 through June 30, 2027.
The Hermes relayers are the price-submission layer beneath Akash’s on-chain oracle. Each relayer streams signed AKT/USD updates from the Pyth network and submits them as transactions to the oracle contract on Akash, where the oracle module aggregates the submissions into a TWAP and marks the feed healthy only while prices stay inside a 30-second staleness window. Burn Mint Equilibrium depends on that health check: if the feed goes stale, minting halts.
Three relayers therefore run in parallel on independent accounts so that the loss of any single instance does not interrupt the feed. Every price submission pays gas in AKT, and that gas is the entirety of this request.
Total Request
| Item | AKT Amount | USD Value (@ $0.556/AKT) | Period |
|---|---|---|---|
| Backfill — relayer gas consumed | 78,632.40 AKT | $43,719.61 | March 19 – August 31, 2026 |
| Forward funding — 303 days at 475 AKT/day | 143,925.00 AKT | $80,022.30 | September 1, 2026 – June 30, 2027 |
| Monthly Service Fee | 8,000.00 AKT | $4,448.00 | September 1, 2026 – June 30, 2027 |
| Total Request | 230,557.40 AKT | $128,189.91 | - |
Conversion rate: 1 AKT = $0.556 USD. This is a placeholder prior to actual prop submission.
Basis of the Request
Overclock Labs funded 95,107.00 AKT into the relayer accounts between March and August 2026, of which 78,632.40 AKT was consumed as gas and 16,474.60 AKT remained on hand at August 31, 2026.
Transfers made between the relayer accounts during the August contract migration are excluded, as that AKT never left the relayer group. All figures are derived from on-chain history and are verifiable at the addresses listed below.
Live:
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akash1math5r2nq5mz3e4kaht27d89t08tpr33w7ds78
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akash1qafvet3v5nlkqdrlrkayy0eenq80aprqvj6nap
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akash1xudaafpk43v8x484pz5egjcqqgt03np5f7h4sk
Retired wallets:
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akash1plnnughn6kvmtz6actn7uhhuz45v09x2fs66x5
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akash17ez5cs6mpa3fdn3g52grgjl6ghetsrrr5g2jpy
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akash1dv7vtjmydlzn3mrccz0qh2wgdrgpx7frmg3xda
Custody and Settlement
The Foundation custodies the AKT. Overclock Labs operates the relayers and invoices the Foundation as the accounts consume gas, so the balance remains with the Foundation rather than pre-funding wallets held on operating infrastructure.
No liquidation is contemplated at any point for the Hermes relayers themselves: these costs are denominated, held and settled entirely in AKT, and this request therefore carries no market impact. Relayer balances and consumption are verifiable on chain at any time. A follow-up request is anticipated around May or June 2027, sized on the run rate observed over the intervening period.