Pyth Network Retrospective Allocation

We are honored to announce that Bonfida is a recipient of Pyth Network’s Retrospective Airdrop Program.

Pyth is the largest first-party oracle network with over 95 data providers, more than 290 dApp integrations, 400 plus price feeds and various supported chains.

The article aims to detail the partnership between the Solana Name Service (SNS) and Pyth Network as well as to describe how the $PYTH tokens will be used.

Pyth and Bonfida

SNS uses Pyth Network’s price feed for USD price equivalents on the sns.id website and most importantly for the SNS smart contracts. This partnership has allowed us to expand our features with great functionalities - important to our user base today. This includes but is not limited to multiple token registrations for domains, accurate updates on sale price information, fast calculation of fees for cross-chain domains and the display of different currencies on our site for statistics and more.

Using Pyth Network’s price feed has been a no-brainer from the get-go. Their delivery of verified data from first-party sources at an admirable speed, utilization of security measures such as confidence intervals and ease of integration made this partnership a straightforward choice.

$PYTH grant recipient

As a long-standing partner of Pyth and a user of their product, we have made countless oracle calls to the Pyth Network. Therefore making us eligible as $PYTH token receivers as outlined in their Retrospective Airdrop Program.

The allocation further solidifies our investment in our partners’ success and empowers us to continue contributing to their ecosystem in the most meaningful way possible.

Our plan with the allocation is simple; long-term holding of our entire allocation with the intention of governance participation in their DAO. There we want to put our best foot forward to help the Pyth ecosystem grow and as such commit to engaging responsibly.

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To experience the smoothness of the Pyth integration with the Solana Name Service visit https://sns.id

To learn more about Pyth Network see:

• Website: https://pyth.network

• Price Feeds: https://pyth.network/price-feeds

• Docs: https://docs.pyth.network

• X: https://x.com/PythNetwork

• Discord: https://discord.com/invite/PythNetwork