Pyth Governance Distribution

Synthetix -

Introduction

Following up on our prior blog post about the Pyth Governance Distribution (see previous blog post), we are now providing the steps for users to participate.

This includes defining eligibility criteria, outlining the claim process, and sharing the timeline for the distribution to qualified users. This effort aligns with the ultimate goal of ensuring active governance participation in Pyth governance by the Synthetix community and strengthening the relationship between Synthetix and Pyth Network.

Eligibility Criteria

You may be eligible for the Pyth Governance Distribution if you have engaged in any of the following activities within one year prior to the initial announcement:

  • Posted in governance-related channels such as #governance, #spartan-council, #grants-council, #ambassador-council, #treasury-council, or #gov-call-chat.
  • Voted on Synthetix Improvement Proposals (SIPs) or Synthetix Configuration Change Proposals (SCCPs).
  • Served on any Synthetix DAO body.
  • Authored a governance proposal.
  • Participated in Synthetix governance elections.
    • Please note that eligibility based on this criterion will be handled in Phase 2 of the distribution.

These criteria are designed to align members of the Synthetix community who have played a pivotal role in Synthetix Governance with the Pyth community, ensuring they have an opportunity to contribute significantly to the early days of Pyth Governance.

How to Claim

To claim your share of the distribution, please follow these steps within the next 4 weeks to maintain eligibility:

  1. Visit the Synthetix Discord and navigate to Pyth-Governance-Distribution channel.
  2. Use the Appy BOT to submit a form attesting that you meet the eligibility criteria.
    1. Step 1: Navigate to the Pyth-Governance-Distribution channel.
    2. Step 2: Type /apply then click application Pyth-Gov-Distribution.
      1. You must allow DMs from server members to submit the application. Visit the Appy guide to learn more. Once completed, you can safely disable this option.
    3. Step 3: Fill in the form with your SOL address. 
    4. Step 4: Submit the form.

If you must change your SOL address, please submit another entry - your most recent entry will be used for distribution.

When Will I Receive My Pyth Distribution?

Over the next four weeks, users will have the opportunity to provide Solana wallet addresses in the Synthetix Discord server. Once the list of recipient addresses has been finalized, new submissions will not be accepted after four weeks. After completing this process, the distribution will be conducted for eligible users.

If you submit an entry and are not eligible, you will not receive any PYTH. 

Supporting Pyth Governance

This distribution aims to bolster Pyth Governance by distributing PYTH to those highly active in Synthetix Governance, while also continuing to foster a productive relationship between the Synthetix and Pyth communities. Pyth is just beginning its journey into decentralized governance, and its elections for the Pythian and Price Feed Council have recently concluded.

Read more about Pyth Governance by visiting the following links:

Questions

Join the Synthetix Discord for any questions.