Crypto Updates

Chainlink Challenger Pyth Network Announces New Airdrop for Over 160 Dapps

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A rival of blockchain oracle provider Chainlink (LINK) is announcing a new airdrop for over 160 decentralized applications (Dapps).

In a new blog post, data aggregating service Pyth Network (PYTH) says that it is launching the second phase of its Retrospective Airdrop plan, which gives all Dapps using data provided by Pyth free tokens.

“Readers can soon look forward to their favorite [Pyth-using] applications announcing their receipt of PYTH Governance Tokens and their plans on what they will do with their PYTH Tokens.”

The plan was initially launched in November 2023, at the time becoming the largest cross-chain airdrop ever. According to Pyth, as of today, 51,000 users claimed over 163 million PYTH tokens, 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 allocations…

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 price data to secure their protocol operations, typically for transactions, asset valuation, and on-chain settlement.”

According to Pyth, its program spans across the DeFi space, including decentralized exchanges (DEXs), crypto lending protocols, stablecoin issuers, and other data analytics platforms.

PYTH is trading for $0.468 at time of writing, a 1.1% decrease during the last 24 hours and a 15% drop from its seven-day high of $0.539 set on February 1st.

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