Pyth Network has unveiled a unique program, to distribute tokens retrospectively to individuals who have contributed to the oracle network. In total, over 75,000 wallets qualify for this cross-chain airdrop.
Furthermore, these eligible participants encompass community members, developers, and users across more than 200 dapps. These decentralized applications encompass 27 blockchains, including Ethereum, Avalanche, Arbitrum, and more.
Individuals with specific roles on the project’s Discord and holders of official Pyth Network NFTs are also included. The gesture, according to Pyth Network, is a way of expressing gratitude to its dedicated stakeholders. They stressed it’s among the most comprehensive cross-chain airdrop programs in web3 and DeFi.
Pyth Network Retroactive Token Airdrop and Governance Vision
While snapshots of on-chain and social activities have been captured, the date for token claims remains undisclosed. However, the Pyth team offers reassurance that users can verify their eligibility and token allocation via the airdrop check site. It’s crucial to be aware that this site is inaccessible to residents of specific countries, notably the U.S. and the UK.
The PYTH tokens are native to the Solana blockchain, and the airdrop will allocate tokens from Pyth’s “Community and Launch” category. This category holds up to 6% of the total supply, which is 600 million PYTH. The allocation breakdown includes 100 million PYTH for dapps, 200 million PYTH for on-chain DeFi participants, and 10 million PYTH for active community members.
A primary goal of the airdrop is to promote active engagement in the network’s on-chain governance. This community involvement is integral to Pyth Network’s vision of transforming into a robust and user-centric decentralized mainnet.
Moreover, in the coming days, Pyth plans to furnish additional information regarding the claiming process for eligible participants, DAOs, and dapps utilizing Pyth data. It’s essential to exercise caution, as users should remain vigilant against potential scams.