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What is the issuance amount of PYTH coins?
The total issuance amount of PYTH coins is 10 billion, with a specific distribution structure designed to incentivize network participants for data accuracy and reliability.
Nov 16, 2024 at 04:38 pm
What is the issuance amount of PYTH coins?
Introduction
PYTH Network is a decentralized oracle network that provides real-time financial data to smart contracts on the Solana blockchain. PYTH tokens (PYTH) are the native cryptocurrency of the PYTH Network and are used to incentivize data providers and validators to maintain the accuracy and reliability of the network.
Issuance Amount
The total issuance amount of PYTH coins is 10 billion.
Token Distribution
The PYTH token distribution is as follows:
- 40% - Data providers
- 20% - Validators
- 20% - PYTH Foundation
- 10% - Seed investors
- 10% - Liquidity providers
Tokenomics
The tokenomics of the PYTH Network are designed to incentivize data providers and validators to maintain the accuracy and reliability of the network. Data providers are rewarded for providing accurate and timely data, while validators are rewarded for validating and securing the data. The PYTH Foundation is responsible for overseeing the development and governance of the network.
Use Cases
PYTH coins can be used for the following purposes:
- Incentivizing data providers and validators
- Staking to earn rewards
- Governance of the network
- Payment for data access
Why PYTH?
PYTH Network offers a number of advantages over other decentralized oracle networks, including:
- High throughput and low latency: PYTH Network can process up to 10,000 transactions per second with a latency of less than 1 second.
- Accuracy and reliability: PYTH Network uses a consensus mechanism to ensure that the data it provides is accurate and reliable.
- Transparency and auditability: PYTH Network is an open-source project, and all of its data is publicly available and auditable.
Conclusion
PYTH Network is a promising decentralized oracle network that has the potential to revolutionize the way that smart contracts access real-time financial data. The PYTH token is an important part of the PYTH Network, and its tokenomics are designed to incentivize data providers and validators to maintain the accuracy and reliability of the network.
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