Pyth Network Launches Second Airdrop Phase, Distributing $47 Million to Dapps

The initiative aims to enhance decentralized governance and transition towards a self-sustaining mainnet.

Pyth Network has launched the second phase of its token airdrop, distributing 100 million PYTH tokens, valued at approximately $47 million, to over 160 decentralized applications (dapps).
The airdrop aims to foster community participation in on-chain governance and advance Pyth Network towards a decentralized, permissionless, and self-sustaining mainnet.
Eligible dapps span various DeFi use cases, including DEXs, borrowing and lending, structured products, stablecoins, and data analytics.
Some dapps have already initiated the claims process, which includes a mandatory KYC procedure for legal review.
Since its inception, the PYTH token has seen a price surge of over 45%, currently trading at $0.47.