Pyth Grants $50 Million In PYTH To Stimulate Ecosystem Growth

Key Points:

• Pyth launched a $50 million grant program.
• The program includes community, research, and developer grants.
• Grants will be distributed as locked/unlocked PYTH tokens.

Pyth grants $50 million, offering community, research, and developer grants, with rewards in unlocked or locked PYTH tokens.

Pyth has initiated a $50 million grant program, the Pyth Ecosystem Grant Program, to motivate community members to further develop and expand the Pyth Network.

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The program is overseen by the Pyth Data Association and offers three categories of grants:

• Community Grants
• Research Grants
• Developer Grants

Community Grants stimulate the creation of unique content, promoting constructive discussions and fostering a welcoming environment within the Pyth community, which spans more than 55 blockchains.

Research Grants will fund the exploration of new network features and improvements to the Pyth offerings. Developer Grants incentivize the creation of new tools and innovative integrations with the Pyth products.

The grant program will manage the distribution of either unlocked or locked PYTH tokens to participants from the Ecosystem Growth category of the PYTH Token supply.

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Contributions and Impact of Pyth Network

This category, making up the majority of the total supply, is specifically for incentivizing research to advance the Pyth protocol, supporting educational initiatives about the Pyth Network, and guiding the creation of complementary tooling and infrastructure.

Pyth Network, operated by the Pyth DAO, is enabling a new generation of decentralized finance by providing access to low-latency, high-frequency, and high-fidelity price data to developers.

As of this writing, Pyth Network has powered over 350 applications across more than 55 blockchains and has facilitated over $400 billion in traded volume.

The launch of the Pyth Ecosystem Grants Program aims to further this growth and encourage more stakeholders to contribute to the Pyth Network’s development.