[NEWS] Solana-based next-generation oracle "Pyth Network" airdrops token "PYTH"

On the 1st, Pyth Network, a next-generation oracle network based on Solana, announced plans to issue its own token, PYTH, and airdrop it to users.

▶Pyth Network Overview

The airdrop will not only be available to Solana users, but also to 27 other blockchains, including Ethereum, Avalanche, Arbitrum, Polygon, Aptos, Sui, and Cosmos.

Currently, there are over 75,000 wallets in the community, and this PYTH airdrop will be available to everyone in the community.

The PYTH allocated for the airdrop will come from the "Community and Launch" allocation, with up to 6% of the total supply (600 million PYTH) provided. This will include 100 million PYTH for dApps, 200 million PYTH for on-chain activity by DeFi participants, and 10 million PYTH for community members.

Users can use the airdrop check website to check their eligibility and the amount of PYTH to be allocated by connecting their wallet.

However, as of the 1st, the date of the airdrop has not been announced for eligible participants. It seems necessary to follow the official social network channels of Pyth Network to get the latest information.

Pyth Network was implemented on Solana's mainnet in August 2021, but its own native governance token, PYTH, had not yet been launched. Due to the influence of this project, the price of Solana has skyrocketed.

On the 27th of last month, asset management company VanEck released a report on Solana's evaluation. According to the report, Solana will win the race against Ethereum and be used across the board in finance, banking, payments, the metaverse, gaming, and infrastructure. The price of Solana could continue to rise from the current price of about $30 to $3,211.28 by 2030.

The report actually models a scenario in which Solana will grow into the first blockchain to host an app that will gain more than 100 million users.

The market also seems to be favorably impressed by the prediction that Solana's data capacity will be more than 10 times larger if its next major update, Firedancer, is realized.

Reference:Announcement
Image: Quoted from the official website