Pyth Network Retroactive Airdrop Program
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Pyth Network Retroactive Airdrop Program
The purpose of Pyth Network's retroactive airdrop program is to incentivize participation in on-chain governance and steer Pyth Network toward a permissionless, decentralized, and self-sustaining mainnet state.
Navigating Web3 tides with focused insights
Today marks the unveiling of the Pyth Network airdrop initiative. This airdrop is a cross-chain program and a heartfelt thank you to the community members who have contributed to the Pyth oracle ecosystem.
Members of the Pyth Network community—including applications on 27 blockchains that use Pyth data, as well as individual users of these applications—are eligible for this airdrop.
Readers can check their eligibility and allocated amount of PYTH tokens by using the airdrop checker page and connecting their wallet.
Please note that as of November 1, 2023, the date for eligible participants to claim their airdrop allocations has not yet been announced. Stay tuned via official Pyth Network social channels for updates.
This is the largest cross-chain, user-facing airdrop we are aware of in the Web3 and DeFi space. Over 75,000 wallets will be eligible to receive PYTH tokens based on their on-chain activity across 27 blockchains and more than 200 decentralized applications (dApps).
This blog post provides detailed information about the airdrop program and eligibility criteria. Further details on how eligible individuals and dApps using Pyth data can claim their allocations will be released in due course.
About the Airdrop
The purpose of the Pyth Network retroactive airdrop is to encourage participation in on-chain governance and to transition Pyth Network toward a permissionless, decentralized, and self-sustaining mainnet state.
As discussed in the PYTH tokenomics article, the general goal of token-based governance is to enable a broader community to help shape the protocol’s development. You can learn more about Pyth governance in the Pyth Network Whitepaper 2.0.
The PYTH tokens allocated for this airdrop come from the "Community and Launch" category. Up to 6% of the total supply (600 million PYTH tokens) may be distributed to eligible participants, including 100 million PYTH tokens for dApps, 200 million PYTH tokens for DeFi participants’ on-chain activity, and 10 million PYTH tokens for active community members.
The PYTH token conforms to the Solana Program Library (SPL) standard, meaning it is a native token on the Solana blockchain.
Eligibility Criteria
Eligibility for the Pyth Network airdrop is based on contributions to the Pyth Network ecosystem and usage of the Pyth oracle.
You may be eligible for an airdrop allocation if you participated in any of the following ways:
Snapshots of on-chain and social activities have already been completed. Readers can use the airdrop checker page and connect their wallet to verify eligibility.
Rest assured, there will be future opportunities to participate in the network. We sincerely thank the community for its contributions. You can learn more about the Pyth Network community here.
Detailed Eligibility Criteria
DeFi Participants—You may be eligible for an airdrop allocation if you performed on-chain activity on dApps that use Pyth Network data within the following blockchain ecosystems:
Community Members—You may be eligible for an airdrop allocation if you hold one of the official Discord roles below, own one of the official Pyth Network NFTs listed below, or have excelled as a member of the Pyth Network Ambassador Program.
Note: Global snapshots have already been completed. Transferring Pyth Network NFTs or acquiring new official Discord roles will not make new wallets eligible.
Decentralized Applications Using Pyth Data—Details on how dApp teams and DAOs can check their allocation amounts will be published in due course.
Claiming the Airdrop
As of November 1, 2023, there is no announcement regarding how eligible individuals or dApps can claim their airdrop allocations. Further updates will be shared through official Pyth Network social channels. If you have any questions, feel free to visit the official Pyth Network Discord and Telegram.
Determining Eligibility Criteria
Users of decentralized applications on Pyth-supported blockchains are eligible for allocations based on their on-chain activity. Their interactions with dApps on the blockchain have been analyzed and allocated as follows:
All wallets that interacted on-chain with Pyth Network price data were analyzed. After applying anti-Sybil techniques and removing blacklisted wallets, the remaining wallets were ranked by number of interactions within each chain.
Each chain was divided into three similarly sized segments. Then, segments with similar indices across chains were merged to form three overall user tiers. Total allocations were distributed across these tiers as follows: 55% to the top third, 30% to the middle third, and 15% to the bottom third.
You can learn more about the calculation of on-chain interactions and community activities in the Airdrop Eligibility and Distribution article.
Security Reminder
We strongly advise readers to remain cautious and vigilant against potential scams. Please ensure that any website related to Pyth Network you visit has the domain name pyth.network. Similarly, verify that any Pyth Network social media accounts you access are listed on the official community page. Administrators of the Pyth Network community will never proactively contact you or request your personal information.
We can’t wait to hear your thoughts! Feel free to join the Pyth Discord and Telegram, follow Pyth on X. You can also learn more about Pyth and find details about Pyth’s bug bounty program here.
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