For Python 2.6+ - 3.x application wanting to leverage coroutines-based design, Trollius framework may be a way to go. The pysnmp bindings to asyncio could be used with Trollius. Minor differences in syntax are outlined in the following example scripts.
SNMP Command Generator Applications:
SNMP Notification Originator Applications:
For more details on PySNMP programming model and interfaces, please refer to the documentation.