A cryptocurrency data network, Pyth Network, has officially launched its permissionless mainnet, enabling users to actively participate in Pyth Governance by staking PYTH Tokens for influence on critical decisions such as reward mechanisms and fee structures.
This transition from a permissioned to a permissionless mainnet underscores Pyth’s commitment to decentralization. Since its launch in August 2021, Pyth has strategically grown, expanding across 40 blockchains and collaborating with 90+ data providers, serving 230+ dApps.
Now, with on-chain governance taking the forefront, the protocol empowers a diverse range of participants, including decentralized applications, financial institutions, and individual DeFi users.
This shift signifies a crucial step in bringing financial data onto the blockchain, emphasizing community engagement in shaping the protocol’s future through active participation in governance discussions and voting.