The decentralized oracle service, Pyth Network, will unlock its first batch of tokens six months after its launch last November, rewarding ecosystem participants, protocol developers, and early backers.
According to Token Unlocks, the event will release 141% of pyth's current circulating supply or 2.13 billion tokens. Approximately 21% of the tokens unlocked will be for insiders whereas 79% will be allocated to the community through staking rewards and various others apps that use the network.
A new compensation plan proposed by FTX states that creditors with claims under $50,000 will receive at least 118% compensation.
FTX estimated the total value of cash available for distribution to be between $14.5 billion and $16.3 billion, while the plan has yet to be finalised and approved by the U.S. Bankruptcy Court.
The proposal scheduled the repayment to occur within 60 days after the plan’s effective date.
A joint report by Quicknode and Artemis found that for the first time since 2021, DeFi is truly thriving across all chains.
All of the major DeFi protocols saw their TVL double or even triple during Q1. Specifically, Liquid Staking and Derivatives have already exceeded their previous all-time highs in TVL from 2021.
DeFi has seen 291% growth in active addresses in Q1, surpassing Gaming and NFTs while closing in on Stablecoins. In transaction count, DeFi is the undisputed winner with nearly 7 million daily transactions. Solana and Base had the most explosive growth in active addresses in Q1, representing 45% and 17% of activity respectively.