Pyth Network sets retroactive airdrop for Nov. 20

Pyth Network, a decentralized information oracle level for blockchains, has scheduled its retrospective airdrop for Nov. 20.

Airdrop

According to disposable information, the PYTH token volition person a full proviso of 10 cardinal tokens with an archetypal circulating proviso of 1.5 billion.

Pyth Network has earmarked astir 6% of the full tokens, oregon 600 cardinal PYTH tokens, for its airdrop. The organisation includes 100 cardinal tokens for decentralized applications (dApps), 255 cardinal for on-chain enactment by DeFi users, and 10 cardinal for progressive members of the community.

The airdrop programme is retroactive, rewarding longer-term users who person contributed to the network. Snapshots for on-chain and societal activities person already been completed, making lone those users who were antecedently progressive successful the web eligible.

Pyth announced:

“This airdrop is simply a cross-chain programme and an look of heavy appreciation for the dedicated assemblage of the Pyth oracle ecosystem.”

The assertion process volition commence astir 2 PM UTC connected Nov. 20 and volition beryllium disposable for 90 days.

Several large exchanges, including OKX, Bybit, KuCoin, and Gate.io, person promised to database PYTH connected Nov. 20 for spot trading activities.

Pyth Network

Pyth Network is simply a decentralized Oracle level that provides real-time marketplace information to astute contracts connected blockchain networks.

It integrates information from implicit 90 exchanges, marketplace makers, and fiscal work providers, which is past compiled and disseminated to assorted astute declaration applications.

According to OKX data, Pyth has facilitated trading volumes surpassing $80 cardinal and is actively utilized by much than 235 on-chain and off-chain applications.

DeFiLlama’s data shows that Pyth is the second-largest Oracle network, trailing lone Chainlink, based connected the fig of protocols it secures. Pyth secures 120 protocols, safeguarding assets valued astatine implicit $1.5 billion. In contrast, Chainlink secures 357 protocols, protecting assets valued astatine astir $15 billion.

The web precocious posted that it “powers implicit 40 blockchains, securing implicit 90% of full worth (TVS) connected a 3rd of them, and implicit 50% connected fractional of them.”

The station Pyth Network sets retroactive airdrop for Nov. 20 appeared archetypal connected CryptoSlate.