Pyth launches the 2nd phase of the airdrop with 100 million tokens distributed
After giving crypto users $140 million worth of free tokens in November, based on the token's highest price, DeFi oracle network Pyth is back with a second airdrop: this time, for those creators of decentralized applications (dapps) built on the network. Starting today, creators of 167 dapps using Pyth data are now eligible to collect a total of 100 million PYTH tokens in the second phase of the airdrop, worth $46 million at current token prices.
PYTH price chart. Source: TradingView
Decentralized applications eligible to benefit from the airdrop are listed on the Pyth website, including decentralized exchanges (DEXs), structured products, stablecoin protocols, analytics projects loan/lending data and services.
Some of the more famous dapps and protocols on the list include Jupiter, Solend, zkEra, Ronin Network, Stacks, Helium, and Mango Markets.
Late last year, Pyth introduced the Solana-based native PYTH token as a means to reward users, community members, and clients. The first phase of the PYTH airdrop issued 255 million tokens to the network's early users, an amount currently worth more than $122 million.
Since the launch of the first phase of the airdrop on November 20, over 51,000 users have received over 163 million PYTH per network. There are still 36% of PYTH tokens reserved for early adopters that have yet to be claimed.
According to the roadmap, PYTH has an initial circulating supply of 1.5 billion tokens, which will eventually increase to 10 billion tokens over the next 3 to 5 years. The gradual increase in token supply is set over a period of over three months.
In addition to the allocation to early adopters and client dapps, 10 million PYTH has also been set aside for active community members.
As an oracle network, Pyth connects blockchains with data sources from the offchain world, allowing DeFi smart contracts to react and incorporate real-world events and data originating outside the world. electronic money.
Pyth is currently the fourth largest oracle network by total value secured, with a market share of 6.55%, according to Defi Llama. This is up from 4.75% when the PYTH airdrop launched in late fall.
Source: Defi Llama
