Coinspeaker
Pyth’s Blazing $77M Token Airdrop Cements Status as Chainlink Challenger

Pyth Network, a decentralized finance (DeFi) oracle service competing with Chainlink, made headlines this week with a remarkable token airdrop valued at an astounding $77 million. The distribution of 250 million PYTH tokens to early Pyth users increased the protocol’s market capitalization beyond $765 million, highlighting the project’s growing importance.

Today marks the launch of the Pyth Network’s permissionless mainnet, ushering in a new era of token-led governance for the protocol.

Ecosystem participants can actively engage in Pyth Governance by locking their $PYTH Tokens in the Pyth staking program to cast votes on community… pic.twitter.com/KNmwWptD3K

— Pyth Network 🔮 (@PythNetwork) November 20, 2023

As a first-party oracle for global financial data, Pyth Network provides access to over 300 real-time price data points across major asset classes, including equities, ETFs, forex, commodities, and digital assets. It allows users to publish on-chain price data for sea...