A competitor of the blockchain oracle provider Chainlink (LINK) is introducing a fresh airdrop initiative aimed at over 160 decentralized applications (Dapps).
In a recent blog post, the data aggregation service Pyth Network (PYTH) reveals its plans for the second phase of its Retrospective Airdrop program, which offers complimentary tokens to all Dapps utilizing data supplied by Pyth.
“In the near future, enthusiasts of [Pyth-utilizing] applications can anticipate announcements regarding the reception of PYTH Governance Tokens and the strategies these applications intend to implement with their PYTH Tokens.”
Introduced in November 2023, the initiative initially stood as the most extensive cross-chain airdrop to date. According to Pyth, as of the present moment, more than 51,000 users have asserted ownership of over 163 million PYTH tokens, representing 65% of the total airdrop allocation.
“The initial stage of the airdrop initiative facilitated the allocation of PYTH Tokens to DeFi (decentralized finance) participants, ranging from those utilizing EVM (Ethereum Virtual Machine) to Cosmos and Solana, who engaged with Pyth-powered applications. Additionally, active members of the Pythian community were granted allocations…
This subsequent phase of the airdrop initiative entails the allocation of PYTH Tokens to over 160 decentralized applications leveraging Pyth Data. These applications depend on Pyth’s price data to safeguard their protocol operations, primarily for transactions, asset valuation, and on-chain settlement.”
As stated by Pyth, its program extends throughout the DeFi sector, encompassing decentralized exchanges (DEXs), cryptocurrency lending protocols, stablecoin issuers, and various data analytics platforms.
At the moment of writing, PYTH is priced at $0.468, reflecting a 1.1% decrease over the past 24 hours and a 15% decline from its seven-day peak of $0.539 recorded on February 1st.
