Twitter Post by Gate.io on November 16, 2023, came up with some good news for crypto enthusiasts. The post reveals the commencement of Pyth Network to the list.
According to a Twitter post, the trading of PYTH, a native token of Pyth Network, is expected to start on November 20th, 2023 UTC.
About Pyth Network
Accessing financial market data was a bit challenging due to a limited set of institutions and strict control over historical price feeds. Pyth Network is all prepared to resolve this issue and enhance transparency of financial market data.
Pyth is an oracle that broadcasts financial market data to 40+ blockchains and 230+ applications. In addition, the platform delivers real-time market data for equities, FX Crypto, and commodities. More than 90 market participants like Binance, OKX, Jane Street, Bybit, etc, publish their data directly to the network.
Gate.io recently partnered with Pyth Network. It is slated to initiate PYTH trading on 2:00 PM November 20th, 2023 UTC, allowing trading pairs of $PYTH/ $USDT. Around 250 Million Pyth tokens are expected to be airdropped to 90K wallets by next week.
Users can claim the tokens on November 20 and the claim process will stay open for 90 days, till February 18. In addition to this, users interacting with the Pyth network and data are eligible recipients of the airdrop.
Users relying on Pyth network data across blockchains like Ethereum, Solana, Polygon, Avalanche, Optimism are eligible for the token allocation. Also, Pyth NFT holders and Pyth network discord administrators are also eligible for an allotment.
However, Pyth users residing in countries like the United States, United Kingdom, Ukraine, North Korea, Syria and some other nations will be ineligible to take part in the token claim process.
Responding to Gate.io’s tweet, Pyth Network revealed a few of the details to maintain the excitement of crypto enthusiasts.
Claiming of the PYTH tokens will be based on a first-come, first-serve basis and include tasks like retweeting, tagging friends, and submitting address binance smart chain, Pyth Network tweet.
In addition to this, other crypto platforms including OKX and HTX also announced PYTH trading on November 20. The update was issued by the leading crypto exchange on November 16, 2023 and will be enabled once PYTH deposits attain OKX’s liquidity needs.
Gate.io currently works with more than 1700 cryptocurrencies listed and holds approximately 14 Million registered users.
Conclusion
Some of the top cryptocurrency exchanges including Gate.io, OKX, and HTX announced trading of PYTH tokens by November 20, 2023. Around 255 Million PYTH tokens will be released to 90K wallets and users interacting with the Pyth network and data will be prioritized for token claim.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/20/gate-io-leading-crypto-exchange-to-start-pyth-trading-soon/