A rival to blockchain oracle provider Chainlink (LINK) is announcing a new airdrop for more than 160 decentralized applications (Dapps).
In a new blog postdata aggregation service Pyth Network (PYTH) says it is launching the second phase of its Retrospective Airdrop plan, with all Dapps using free tokens that use data from Pyth.
“Readers can look forward to their favorite soon [Pyth-using] applications announcing their receipt of PYTH Governance Tokens and their plans for what they will do with their PYTH Tokens.”
The plan was initially launched in November 2023 and became the largest cross-chain airdrop ever at the time. According to Pyth, 51,000 users have claimed more than 163 million PYTH tokens so far, or 65% of the entire airdrop.
“The first phase of the airdrop program oversaw the distribution of PYTH tokens to DeFi (decentralized finance) participants, from EVM (Ethereum Virtual Machine) to Cosmos, to Solana, who interacted with these Pyth-powered applications. Active community members from the Pythian community also received assignments…
This second phase of the airdrop program involves the distribution of PYTH tokens to more than 160 decentralized applications using Pyth Data. These applications rely on Pyth’s pricing data to secure their protocol operations, typically for transactions, asset valuation, and on-chain settlement.”
According to Pyth, the program extends across the DeFi space, including decentralized exchanges (DEXs), crypto lending protocols, stablecoin issuers, and other data analytics platforms.
PYTH is trading at $0.468 at the time of writing, down 1.1% over the past 24 hours and down 15% from its seven-day high of $0.539 on February 1.
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Featured image: Shutterstock/Sergey Nivens/Vladimir Sazonov