Pyth Network to Distribute 100 Million PYTH Tokens Among 167 Dapps

In the second phase of its retroactive airdrop, Pyth Network will distribute native tokens among 167 decentralized applications interacting with its oracle network.

The Pyth Retrospective Airdrop was not just for DeFi participants and individuals from the community.$PYTH Tokens have been distributed to over 160 #PoweredByPyth dApps across 27 chains.

Learn more below: pic.twitter.com/4zH82PMluR

— Pyth Network ? (@PythNetwork) February 7, 2024

The project has allocated 100 million PYTH, valued at approximately $49 million, for this campaign.

According to the developers, the participating dapps operate across 27 different networks. Recipients include Synthetix, Mango Markets, Bonfida, Helium, and PancakeSwap.

“More than 160 applications are eligible to receive PYTH governance tokens, based, among other factors, on the depth of integration with the Pyth oracle,” noted Michael Cahill, head of Douro Labs.

The project’s token is based on the Solana blockchain. Since its launch in November last year, the price of PYTH has increased by more than 45%.

In the first retroactive airdrop, Pyth Network distributed tokens among 75,000 wallets. Notably, community members with specific roles in Discord and holders of official NFTs were eligible to receive coins.

Shortly after the distribution, PYTH’s market capitalization exceeded $420 million.