Pyth Network (PYTH) announces token airdrop to community

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There are over 75,000 wallets eligible to receive tokens in Pyth Network’s retrospective airdrop program.

In order to thank the community members who have actively contributed to the oracle ecosystem, Pyth Network announced the airdrop review plan.

Today is the unveiling of the Pyth Network retrospective airdrop.

This airdrop is a cross-chain plan for the dedicated community of the Pyth oracle ecosystem.

Learn more below:
This program expresses deep gratitude to the enthusiastic Pyth Network stakeholders… pic.twitter.com/8TIzNdMQEN

—Pyth Network 🔮 (@PythNetwork) November 1, 2023

According to the announcement, the project will be airdropped to over 75,000 wallets. These members contribute to the oracle network and more than 200 dApps using Pyth data on 27 blockchains.

The amount of PYTH tokens used for the airdrop falls under the “community and launch” portion of the project’s previously announced token economy.

Specifically, Pyth Network promises to deduct 6% of the supply, or 600 million PYTH, and airdrop it to active users on the network. Among them, 100 million PYTH are used for dapps, 200 million PYTH are used for on-chain activities of DeFi participants, and 10 million PYTH are used for “active” community members.

PYTH tokens are issued according to the Solana Program Library (SPL) standard, so users need to connect their wallets to the Solana blockchain to receive the airdrop.

Link to check eligibility: https://airdrop.pyth.network/ (This website is not intended for UK and US residents)
Token collection time: not sure yet. The project urges the community to continue to follow Pyth’s social media channels for the earliest updates.

Airdrop standards:

DeFi participants: Users who have used dApps that use Pyth Network data.
Community members: The user has one of the Discord roles listed below, holds any official Pyth NFT, or is a member of the Ambassador Program.
dApps using Pyth data: Eligible applications and DAOs will be announced in due course.

According to the project, the purpose of the airdrop is to stimulate participation in on-chain governance and transform the Pyth Network into a decentralized and self-sustainable mainnet. By involving the community in governance, the network aims to become more resilient and user-oriented.

It is understood that Pyth Network is an oracle project that has attracted more than 50 major partners around the world to provide valuable data sources, integrating many protocols, AMMs, derivatives and a range of other dApps with the provided data, and is reliable And the delay is smaller than 1 second.

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