Pyth Network wallet

What is Pyth Network (PYTH)?

Most of what Pyth Network does never touches the PYTH token directly. The protocol collects prices from exchanges, market makers and trading firms that publish their own quotes, aggregates them into a single feed with a confidence interval, and lets smart contracts on dozens of chains pull the latest update when they need it. The application that posts the update pays that chain's normal transaction fee in its own gas coin, not in PYTH. PYTH itself is the governance token: holders who stake it in the on-chain staking program vote on which feeds get listed, how fees are set, which publishers are admitted and how the protocol's parameters change. Staking for a vote locks the tokens until a cooldown period has passed, so a portion of a holder's balance can be temporarily immovable by design.

What a holder deals with

The native PYTH is an SPL token on Solana. That means a token account is created the first time it arrives at an address, a small amount of SOL is set aside as rent for that account, and every transfer is paid in SOL. If the wallet holds PYTH but no SOL, nothing can be sent until some SOL is added.

PYTH also circulates on EVM networks as a bridged version. It is the same asset economically, but it is a different token on a different ledger: the balance on Solana and the balance on an EVM chain do not add up in one place, and a transfer meant for one network cannot be received on the other. Tokens bought on an exchange should be withdrawn on the network you actually intend to hold them on.

Because PYTH lives in more than one place, the Tangem app keeps a separate entry for each network and displays the outgoing network on the confirmation screen before the card is tapped to sign. For a token that is often moved rarely and held for governance, that one check at the moment of sending is the part that matters most. Supported networks in Tangem (2): Manta Pacific, Solana.