Pyth Network Announces Token Economics With Maximum Supply of 10 Billion PYTH


This article has been republished with permission from Binance News.

According to Foresight News, the Pyth Network has announced the token economics for its PYTH cryptocurrency. The maximum supply of PYTH is set at 10 billion tokens, with an initial circulating supply of 1.5 billion (15%). Initially, 85% of PYTH tokens will be locked, with the locked tokens set to be unlocked at 6, 18, 30, and 42 months after the initial token issuance.

In the token distribution, 22% is allocated for network data provider rewards, 52% for ecosystem growth strategy (including developers, educators, researchers, strategic contributors, and early network data providers), 10% for protocol development, 6% reserved for the initial launch phase and related activities and plans, and 10% for two rounds of financing for strategic contributors. Pyth governance can help determine higher-level parameters for other network mechanisms, such as determining the size of update fees, establishing reward allocation mechanisms for network data providers, approving other software updates for on-chain programs across blockchains, determining how to list new trading varieties and their reference data on Pyth, and determining how to allow data providers to supply price information data.

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