Pyth Governance Distribution Phase 2 Now Live for Eligible Synthetix Users

We are thrilled to announce that Phase 2 of the Pyth Governance Distribution is now complete and ready for eligible governance participants to claim their tokens. This phase builds upon our previous distribution, further strengthening the relationship between Synthetix and Pyth while fostering active participation in Pyth governance.

Phase 2 Distribution Details

Phase 2 of the distribution is now live, and eligible users can claim their PYTH tokens at the following link via Streamflow: Claim Your PYTH Tokens

Eligibility Criteria

The eligibility criteria for Phase 2 remain consistent with our previous distribution. However, to ensure maximum alignment with Pyth governance, this phase includes an additional requirement:

• Participants must have held and staked their PYTH tokens received in the prior distribution before July 19th, 2024.

How to Claim Your Pyth Tokens

Claiming your Pyth tokens is easy. Just follow these simple steps:

1. Head to https://app.streamflow.finance/airdrop with the Solana wallet you submitted via Appy on the Synthetix Discord
2. Sign in and verify your wallet
   1. If you're using Ledger/Squad, click the necessary button on Streamflow.
3. On the airdrops page, you will see the Pyth Governance Distribution Phase 2 airdrop
4. Claim your tokens and start participating in Pyth governance

Note: Unclaimed tokens will be returned to the Synthetix Treasury Council wallet after 28 days. 

Strengthening Pyth Governance

This second phase of distribution further reinforces our commitment to supporting Pyth in its early stages and deepening the connection between the Synthetix and Pyth communities. By distributing additional PYTH governance tokens to engaged community members, we aim to enhance active participation in Pyth governance and contribute to its decentralized future.

Get Involved in Pyth Governance

If you're new to Pyth governance or need a refresher, here are some valuable resources to help you get started:

• Pyth Staking
• Pyth Staking Guide 
• Pyth Voting Guide
• Pyth Discord

Upcoming Collaboration: Synthetix and Pyth on Arbitrum

We're excited to announce an upcoming collaboration between Synthetix and Pyth designed to reward Pyth stakers and promote the cross-pollination of users on the Arbitrum network. This initiative aims to create additional value for both Synthetix and Pyth community members in addition to Arbitrum LTIP rewards.

Enhanced Rewards for Pyth Stakers

As part of this collaboration, we're planning to introduce additional incentives for Pyth stakers who engage with Synthetix Perps on Arbitrum:

1. Additional Fee Rebates: Pyth stakers trading on Synthetix Perps will be eligible for extra fee rebates, on top of the existing ARB LTIP fee rebates.
2. Cross-Ecosystem Benefits: This initiative is designed to encourage Pyth users to explore and engage with the Synthetix ecosystem on Arbitrum, fostering greater integration between our communities.

The details of this program are still being finalized. We're working diligently to create a rewards structure that provides significant value to participants while ensuring sustainability and alignment with both protocols' objectives.

Next Steps

1. Check your eligibility for Phase 2 of the distribution.
2. Claim your PYTH tokens using the provided link.
3. Engage with the Pyth community and participate in governance decisions.
4. Stay informed about the upcoming Synthetix-Pyth collaboration on Arbitrum.

Any Questions?

If you have any questions or comments, please head directly to the Synthetix Discord.