In the not-too-distant future, when Solana airdrop szn has concluded, we will remember PYTH for kicking it off with a retroactive airdrop in October 2023. The tl;dr description floating around was that it's the Chainlink of Solana. After the airdrop, I dug deeper into the project and found that description to be an understatement.
Although Pyth Network launched in 2021 on Solana and is the primary oracle for the chain's dApps, it's actually a cross-chain protocol. Published prices are aggregated and made available through Pyth's oracle, which is used by 25% of all dApps that use oracles. This staggering market share not only includes swapping and trading on DEXs, but a growing number of dApps, including platforms like Colosseum.so and other prediction markets.
I cashed out my drop at .36 thinking I could re-buy at around .25-.27. Most airdropped tokens, unless vested or locked, tend to dump after an initial pump. This, and the most recent JTO drop have bucked that trend and I'm lowkey regretting selling.
Data Sources: Coindesk Pyth Network Coinmarketcap
Bullish on all Solana protocols this season! 🚀 Show Less
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