Pyth Token Debuts Near $500M Valuation as 90,000 Wallets Receive Airdrop


20 Nov 2023 3:34 PM

The network has $1.5 billion in total value secured across 120 protocols....

  • Pyth's token debuted with a market cap of $468 million after issuing an airdrop for 90,000 wallets.
  • The token is currently trading around $0.32, reaching a high of $0.51.
  • Airdrop recipients have 90 days to claim their PYTH tokens, which will be used for on-chain governance votes.
  • The token initially has a circulating supply of 1.5 billion, with 85% of the total supply locked for a period of six to 42 months.
  • 255 million tokens were allocated for the airdrop.
  • Pyth Network has a total value secured (TVS) of $1.5 billion across 120 protocols, making it the fourth-largest pricing oracle.
  • Competitor Chainlink (LINK) has a TVS of $14.7 billion.
  • Pyth gathers pricing data from exchanges and traders before sending it to smart contracts.
  • Participants can engage in Pyth Governance by locking their PYTH Tokens in the staking program to cast votes on community proposals.
  • PYTH is one of the anticipated airdrops of the year, following the successful release of Celestia TIA.

The sentiment of the article is generally positive, highlighting the successful debut and airdrop of Pyth's token, as well as its potential for token-led governance.

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You May Ask

What was the market cap of Pyth's token at its debut?How long do airdrop recipients have to claim their PYTH tokens?What is the total value secured (TVS) of Pyth Network?How does Pyth gather pricing data for its oracle network?What can participants do to engage in Pyth Governance?

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