Pyth Network Launches Cross-Chain Token Airdrop for Community Members
Pyth Network has introduced a retrospective cross-chain token airdrop program to reward community members who have contributed to the oracle network. The airdrop is available to over 200 decentralized applications (dapps) across 27 blockchains that use Pyth data, as well as the users of those applications, totaling around 75,000 wallets.
The eligible blockchain ecosystems include Ethereum, Avalanche, Arbitrum, Base, Optimism, Polygon, zkSync, Aptos, Sui, Cosmos, and Solana. Additionally, community members with specific official Discord roles and holders of official Pyth Network NFTs are also eligible for the airdrop.
This airdrop serves as a way to express deep appreciation for the dedicated Pyth Network stakeholder community. It aims to recognize the contributions of developers and end-users in the network’s growth. According to Pyth Network’s announcement on Twitter, this is the largest cross-chain usage-oriented airdrop program in web3 and DeFi.
Claiming Allocations and Token Details
Snapshots of on-chain and social activity have already been taken for the airdrop. However, the date for eligible participants to claim their allocations has not been announced yet. Users can check their eligibility and PYTH token allocation on Pyth Network’s airdrop check site. It should be noted that the site is not accessible to residents of certain countries, including the U.S. and the UK.
PYTH tokens are native to the Solana blockchain. The airdropped tokens will be allocated from Pyth’s “Community and Launch” category, with up to 6% of the total supply (600 million PYTH) available to eligible participants. This includes 100 million PYTH for dapps, 200 million PYTH for on-chain activity by DeFi participants, and 10 million PYTH for “active” community members.
Stimulating On-Chain Governance Participation
The primary objective of the airdrop is to encourage participation in on-chain governance and transition the Pyth Network towards a permissionless, decentralized, and self-sustainable mainnet. By involving the community in governance, the network aims to enhance resilience and become more user-driven.
Further information on how eligible individuals, DAOs, and dapps using Pyth data can claim their allocations will be announced in the future. Pyth Network also advises users to remain cautious of potential scams.
Hot Take: Pyth Network Rewards Community with Cross-Chain Token Airdrop
Pyth Network has launched an extensive cross-chain token airdrop program as a way to appreciate its dedicated community. The program covers over 200 dapps across various blockchains and is open to around 75,000 wallets. Eligible participants include users of these applications, holders of official Pyth Network NFTs, and community members with specific roles on Discord. This airdrop is considered one of the largest usage-oriented programs in web3 and DeFi.
The airdrop check site allows users to verify their eligibility and PYTH token allocation. However, residents of certain countries are restricted from accessing the site. The PYTH tokens will be allocated from Pyth’s “Community and Launch” category, with a significant portion reserved for dapps and active community members.
By launching this airdrop program, Pyth Network aims to promote on-chain governance participation and transition towards a decentralized mainnet. Further details on claiming allocations will be provided later. Participants are advised to be cautious of potential scams.
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