Pyth Network unveiled a retrospective cross-chain token airdrop program for community members who contributed to the oracle network. More than 200 dapps across 27 blockchains using Pyth data and the users of those applications are eligible for the airdrop – around 75,000 wallets.
These blockchain ecosystems include Ethereum, Avalanche, Arbitrum, Base, Optimism, Polygon, zkSync, Aptos, Sui, Cosmos, and Solana. Community members with certain official Discord roles for the project are also eligible, as are holders of official Pyth Network NFTs.
The airdrop is an “expression of deep appreciation for the dedicated Pyth Network stakeholder community,” Pyth Network Posted on “This is the largest cross-chain, user-centric airdrop program we know of in web3 and DeFi,” it added.
Snapshots for on-chain and social activities have already been completed, although a date for eligible participants to claim their allocations has yet to be announced. However, users can check their eligibility and PYTH token allocation through its air drop control site, the Pyth team explained in a blog post. The site is not available to residents of certain countries, including the US and the UK.
PYTH tokens are native to the Solana blockchain, and airdrop tokens are 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 PYTH 100 million for dapps, PYTH 200 million for on-chain activities by DeFi participants, and PYTH 10 million for “active” community members.
Encouraging participation in on-chain governance
The purpose of the airdrop is to encourage participation in on-chain governance and transition the Pyth network to a permissionless, decentralized and self-sustaining mainnet, the team said. By involving the community in governance, the network aims to become more resilient and user-driven.
Further details on how eligible individuals, DAOs and dapps using Pyth data can claim their allocations will be announced in due course, Pyth said, also advising users to be aware of potential scams.