The Pyth network is a newly introduced platform that is known as the world’s largest network of first-party as an oracle for decentralized systems.
In addition, this network links data from the market of major traders and exchanges with any smart contract worldwide. Moreover, this platform provides real-time prices of different financial assets on over 40 blockchains or more than them. The Pyth network has settled its Airdrop, however, the stakes (those who claim the outcomes for an investment) of $Pyth token incessantly enjoy access to a wide level of the Solana ecosystem of Airdrops.
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This article would be a helpful writing for those investors who have the keener of knowing a big platform like Pyth network, also this platform allows investors for multiple offerings and pathways for airdrops and lead ones for adequate earnings with the help of Solana – Network.
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What Pyth Network is? The – $PYTH?
The Pyth network is considered one of the world’s vast network for decentralized-based oracle networks, which sources financial data from hundreds of multiple publishers such as traders, and exchanges, whose data is published for the first time Pyth network makes it accessible through multiple blockchain networks. The Pyth network offers real-time given prices for equities, cryptocurrencies, and other financial exchanges and assets to smart-contract developers over more than 40 plus blockchains. As said earlier, this network is merely designed to make the data available of financial markets through blockchains to make it conveniently accessible for “On Chain” platforms or applications.
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The below are defined as the attributes of Pyth Network:
A Network of Smart Contracts based on Data:
The Platform Pyth Connects huge financial data from the world’s biggest financial markets, traders, and exchanges to any smart contract, an investor wants to conduct.
A Platform of Transparency and Reliability:
Pyth provides data more smartly for some contracts, using a source of the institution to make it real-time accessible with accurate information from markets.
A Decentralized Platform of Applications:
Pyth allows developers to create “dApps” which control the connections. For instance, trading, bidding, sports betting, and other alike.
Pyth Network “$PYTH” Token Explanation
The Pyth network is represented with the “$PYTH”. This network is an oracle solution for financials that delivers real-time data from the big financial markets through various protocols of blockchain. The Pyth network arranges data from various first-party sources which issue data for the first time and make it available on multiple supportable mediums by ensuring accuracy. As per Coigecko, the latest price of $PYTH is $0.358 and with a 24-hour trading volume of $85,774,807. The $PYTH token also incentivizes the data providers and validators on the network, and transaction and governance fees are also used to pay.
Will a Participant be Qualified for Solana – Ecosystem Airdrops by Staking Pyth Network and the $PYTH Tokens?
As it is known that Solana Eco-System has Pyth Network as its part of the network, therefore, holding a token of $PYTH would necessarily be qualified for multiple airdrops of Solana Eco-system – experiencing and expecting a chain of multiple Airdrops. Staking $PYTH tokens over Pyth Network, would eligible the participants to get potential airdrops projects which are relating to the Solana – Ecosystem. In addition, holding $PYTH tokens would also result in allowing the participants in communities and possibility of availing projects of new Airdrops, and it is considered as the tool for marketing or through which liquidity boost.
How to Stake $PYTH Token for Various Solana-Airdrops?
It takes as whole almost 5 – Minutes:
The below is defined as the way of getting Pyth Network token $PYTH over various Solana Ecosystem of Airdrops:
- To set up the wallet of Phantom
To set up a wallet of PHANTOM Wallet, one’s needs to download the wallet – Phantom from the extension Chrome, and it is required to have the Phantom wallet as the primary wallet for the Solana ecosystem. - Get the $PYTH tokens of Pyth – Network
One needs to buy or transfer the $PYTH tokens of Pyth network to the wallet of Phantom to hold it on the platform of Pyth Network. A $PYTH token of Pyth Network could be bought from major exchanges like Bybit and others alike, and it can also be bought from exchanges decentralized like Jupiter but must ensure using the Limit–Order fin order to qualify for the Airdrops of Jupiter. To sign up for Bybit Please click here! - Now Deposit and Stake the “$PYTh”
In order to link the Phantom wallet, please click on the given link. Once the above step is completed now choose the amount of $PYTH a participant wishes to stake/hold and click on the button “STAKE”, But it’s mandatory that the participant must select minimum amount $PYTH tokens. It is experienced that the number of $PYTH token must be an around of 1000, but the team of Pyth-Network hasn’t been confirmed them so far. The staking made participants eligible for “Governance” of Pyth Network. Furthermore, the newest staked tokens of $PYTH also remain eligible for governance vote at the starting of the next period, which takes starts every week of Thursday at 00.00 – UTC and remains till seven days. - The Vote System in Pyth Network Governance
Visit the given site and chose to vote on proposals. By clicking on the Proposal, after which click on the Button Yes or No in order to vote and note if there are no new proposal given and then follow the Button Back and Check again.
- UNSTAKE – The $PYTH
Now if a participant wishes to Unstack back the Tokens $PYTH, must follow to reach the Button ‘Unstake’ and click at. Now after reaching on the site, choose the amount of tokens to unstake and click on the button. Now make sure the transaction alert on the Phantom Wallet, however, ones need to wait until this reaches to cooldown states in order to access the token. - Withdrawn of $PYTH
To withdraw your $PYTH tokens, go to the “Withdraw” tab to click here. Enter the amount you wish to withdraw and confirm the transaction in your Phantom wallet.
Staking Review about $PYTH Tokens of Pyth Network
While taking review of an airdrop, a few important factors have to be considered. The first factors are, to consider the chances of probability of an airdrop project will perform in the first stage. Secondly, to notice how many tokens are allocating towards airdrop’s campaign from projects also the hardship of participation of the projects’ Airdrop. In addition, it is also needed to consider the feature of an airdrop so that to know the actual use of the projects. Lastly, it also needs to be considered that whether these Airdrop projects are not subject to the period of Lockup.
The chances of Likelihood of an Airdrop:
An Airdrop has been finished by Pyth Network, but staking its position for other Solana –ecosystem of Airdrops.
The Allocation of Airdropped tokens:
The allocation of Airdropped tokens are totally depends on how a project performs.
Difficulty adhered to an airdrop:
In order to position one’s himself for airdrop, it is required to stake only $PYth tokens, this is easy but must require real monetary investment funds.
Value of Token:
The utility or value of the token solely depends on over the performance of Airdrop.
Lockup Period of Tokens:
This factor would also solely rely on doings of the projects.
Final Outcome About Pyth Network
The overall process over Pyth Network only takes five minutes to take $PYTH token but require funds, along with to unlock the outcomes for additional Airdrops over the Solana Eco-System of Pyth Network. The very simple process to make one’s position in a stage in order to get future rewards from the Platform.
Hopefully, this article would help to easily get into the Pyth Network and Solana Eco-System.