Rival of Chainlink, Pyth Network, Launches Airdrop for Dapps
Pyth Network, a competitor of Chainlink in the blockchain oracle provider space, has announced a new airdrop for more than 160 decentralized applications (Dapps). In a recent blog post, Pyth Network revealed its second phase of the Retrospective Airdrop plan, which grants free tokens to all Dapps utilizing data provided by Pyth.
The first phase of the airdrop program, initiated in November 2023, was the largest cross-chain airdrop at that time. Over 51,000 users have claimed over 163 million PYTH tokens, accounting for 65% of the total airdrop. This second phase focuses on distributing PYTH Tokens to more than 160 Dapps that rely on Pyth’s price data for their protocol operations.
The program encompasses various sectors within the DeFi space, including decentralized exchanges (DEXs), crypto lending protocols, stablecoin issuers, and data analytics platforms. At present, PYTH is trading at $0.468 with a slight decrease of 1.1% in the past 24 hours.
Hot Take: Pyth Network Expands Airdrop Program to Boost Adoption
Pyth Network’s decision to launch a new airdrop for over 160 Dapps is aimed at increasing adoption and usage of its data aggregating service. By providing free tokens to these applications that rely on Pyth’s price data, it incentivizes their continued usage and integration. This move not only strengthens Pyth’s position in the market but also promotes the growth of decentralized finance (DeFi) as a whole. As more Dapps receive PYTH Tokens and share their plans for utilizing them, it will likely generate further interest and participation in Pyth’s ecosystem.
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