#20 From DeFi to CeFi, Pyth is all over the place
This edition details the latest Pyth developments and highlights our wonderful, ever-growing ecosystem of data publishers and data users!
About:
The Pyth network is a first-party financial oracle solution that aims to bring valuable market data to the general public. The network does so by incentivizing market participants — trading firms, market makers, and exchanges — to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data on-chain and makes it available for use by either on- or off-chain applications. Discover more in our whitepaper or wiki page.
Build with Pyth
Barcelona Hacker House
It was a joy attending another European Solana Hacker House — Hello Barcelona! The event, which took place June 22- 26, brought together over 500 diverse participants from the crypto community. We met tons of builders and held Pyth office hours with a live demo of the network!
There will be more chances to meet and greet! We look forward to the Paris Hacker House (July 15-19)!
New Price Feeds
The crypto world never sleeps, and new tokens appear every day across the vast expanse of permissionless markets. To ensure quality, reliability, and speed, the Pyth network is designed to source only first-party data. Since quality is our priority, sometimes newer price feeds take a little more time to list. As our team continues to get those “long tail” data sources up and running, we thank everyone again for their patience. The team is also working closely with the data provider community to ensure they have the incentive and capability to publish all Pyth prices.
That being said, 2 new feeds appeared this month on the Pyth network: BRZ/USD (Brazilian Digital Token) and ZBC/USD (Zebec). We can’t wait to see what #PoweredByPyth applications will do with them, and we’re very much looking to add other price feeds to the network.
A Revamped Pythiad
Pyth is all about building together and sharing what we’re working on! Many of you may remember the Pythiad as a monthly wrap-up newsletter. We then transitioned it to the peppier, more concise monthly updates.
Fear not. The Pythiad has returned — as a new interview series and personal look into the talented teams building with Pyth.
We first cast a spotlight on Neptune, an ambitious borrow-lending platform and the winner of the Pyth Track Prize in the Solana Riptide Hackathon. The most recent Pythiad takes a gander at GooseFX, a multi-asset class DeFi suite.
The Pythiad is your way of keeping on top of the ever-expanding Pyth ecosystem. These teams are working at the new frontier of DeFi. We’ll tell you all about them.
Cōnfīdentia
Cōnfīdentia (n.): Assurance, Confidence, Boldness
Who is #PoweredByPyth and what are they up to? Confidentia is your new weekly source of alpha. But that’s a secret between us, OK?
Cōnfīdentia highlights the pioneers, innovators, and thought leaders building on-chain and off-chain applications with Pyth’s data.
The inaugural edition of Cōnfīdentia stars Cypher—the team focused on expiratory futures and indices. Trade the untradeable. Cypher is now on mainnet.
Who is #PoweredByPyth?
Cypher—a decentralized derivatives protocol with innovative offerings like dated futures and indices—is now live on mainnet!
Altcoins (and their derivatives) are usually denominated in USD and less so in BTC! This has been the prevailing trend — until now. Cypher gives you back the power to trade against crypto pairs. Cypher’s first two futures markets are SOL/ETH and BTC/ETH. You can also gain broader exposure to Solana’s first tradable index: the “SOL&P 500”, comprised of Solana’s most notable ecosystem tokens: SRM, RAY, HXRO, MNGO, JET, FIDA, ORCA, SLND, SBR, SNY, PORT.
Want to learn more? Tune into our live discussion with Cypher here.
It’s time to shift gears with Vesica's flagship product: SHIFT Search.
SHIFT empowers traders with a “front page view” of the financial markets. It provides directional information on daily market movements, volatility, major trades, and corresponding Pyth data — all within a sophisticated and intuitive user experience.
By incorporating Pyth feeds directly onto the platform, users can easily compare live exchange pricing with first-party data sources that comprise the Pyth aggregate price.
“I'm especially excited about the integration of Pyth prices into the equities version of our product because it enables us to display real-time prices for some of the most popular stocks,” says Dr. Alessandro Warth, CTO of Vesica Technologies. “It would cost us a fortune to display real-time stock prices from the exchanges – and keep in mind our product is free! So since the beginning, stock prices in SHIFT Search have been delayed by 15 minutes. But now, for any stock whose prices are published on the Pyth network, we can display real-time prices, which is a great value-add to our users around the world.”
The Shift team joined us for a Twitter space on June 29th, and it did not disappoint! For an hour, we discussed the common motivation behind both projects - t0 provide valuable (and previously inaccessible) data to everyone and to expand on the data distribution business model and how it may evolve in the future. Listen to the space here.
Find more details in the Shift Press Release.
Xenon is the first universal margin protocol on Solana that allows you to leverage across DeFi protocols, all from a single margin account.
Xenon is designed to be composable and enable you to leverage trade on any integrated DeFi protocol! AMMs, CLOBs, and any lending protocol — they can all be integrated with Xenon for levered action.
Xenon integrates Pyth to accurately value all native assets on its platform. By leveraging DeFi’s composability feature, Xenon builds upon other #PoweredByPyth protocols like Mango Markets or Solend.
Acumen is a money market protocol that aims to bring seamless yield earning to users.
In addition to the traditional algorithmic borrow-lending protocols (where interest rates are calculated depending on the platform utilization), Acumen introduced its StableDapp. When capital is deposited into the Acumen StableDapp, funds are locked and converted into fiat. The latter is then deployed throughout the financial markets starting in El Salvador and more specifically into SMEs. The loans are collateralized with real-life assets that will be transferred to the Acumen DAO. Acumen StableDapp aims to provide between 8 and 12% in yearly interest.
Acumen is the first-ever DeFi protocol receiving a Lending Authorization from a Central Bank. AcumenDAO has already filled the first $250K batch dedicated to financing El Salvador’s SMEs.
Basis Markets enables anyone to spot price dislocations in between exchanges and automatically act upon them through Basis’ Decentralized Basis Liquidity Pool. Basis Markets is comprised of two core components: Basis Trade Engine (BTE) and the Basis Decentralized Liquidity Pool (BDLP).
The Basis Trade Engine dashboard helps traders spot market inefficiencies across CEXs and DEXs. The BTE dashboard is only accessible to Basis NFT owners.
The Basis Decentralized Liquidity Pool enables users to stake their liquidity to generate a return, using the insights generated by the Basis Trade Engine.
Through its risk and strategy engines, the Basis Data Oracle (#PoweredByPyth) powers the platform’s capital deployment across the markets.
Pyth Publishers
New Publishers
As Pyth continues to scale its operations, more data contributors across asset classes are essential, and we’re very happy to have welcomed one new publisher since mid-June.
Argamon is a multi-asset proprietary trading firm dedicated to market making, optimizing financial market liquidity, and managing Prime Broker relationships
Argamon Markets was founded in 2020 and is headquartered in Sydney, Australia
Who’s #PoweringPyth now? You can keep track on our website, and if you own proprietary data yourself, join our cause.
We can’t wait to hear what you think! Feel free to join the Pyth Discord server. Follow Pyth on Twitter. Join our Telegram channel or the Medium to learn more, and send us any questions you may have. More information is available at the Pyth Directory.