Pyth Network Unveiled 2nd Phase of Retrospective Airdrop Program

Reported by The Block, Pyth Network has unveiled the second phase of its retrospective token airdrop program for 167 decentralized applications that have used the oracle network.

Eligible dapps are those that rely on Pyth’s price data for protocol operations, including transactions, asset valuation and on-chain settlement. Some 100 million PYTH governance tokens — worth around $47 million — will be distributed to the dapps.

“It is an honor to work closely with so many passionate developers pushing the boundaries of decentralized finance and the web3 capital markets,” Pyth Network said in a blog post.

Dapps receiving allocations include Synthetix, Mango Markets, Bonfida, Helium and PancakeSwap, spanning DeFi use cases such as DEXs, borrowing and lending, structured products, stablecoins and data analytics. Eligible dapps will announce their own individual allocations and plans for the tokens separately, Pyth explained in the post. However, a date for when the projects will receive their tokens is yet to be announced.