Pyth, a pricing oracle network, announced that it will distribute 255 million tokens to 90,000 wallets next week.
Oracle Network Announces Pyth Airdrop
Competing with companies like Chainlink, the network collects first-party pricing data from exchanges, trading firms and institutions before transferring this data to smart contracts or customers.
The network's native token, PYTH, will initially have a circulating supply of 1.5 billion, with 85% of the total supply locked for 6 to 42 months.
Users will be able to claim the token on November 20 at 17:00, and the claim process will remain open for 90 days.
Eligible recipients of the airdrop are those who interact with decentralized applications using Pyth data or active community members who interact with the network's social media channels.
According to the Pyth blog post, Pyth uses primary sources, unlike Chainlink, which uses aggregators like CoinMarketCap.
According to DefiLlama, Chainlink currently dominates the price oracle industry and holds a 45% market share with a total value (TVS) of $14.7 billion. In comparison, Pyth has a market share of $1.57 billion across 120 protocols.
*This is not investment advice.
