A Pythian Year is Upon Us (#32)
What’s happening in the Pyth ecosystem? Catch the latest developments here on all things Pyth, including new chains, new publishers, and new #PoweredByPyth apps!
Pyth network unlocks valuable financial market data for DeFi and the world. The network incentivizes market participants—exchanges, market makers, and trading firms—to share their pricing data directly to multiple blockchains. Pyth aggregates this data on-chain and makes it available for decentralized and off-chain apps.
What’s New in the Ecosystem?
A 2022 Pythian Recap
2022 will definitely be a year to remember: the highs were high, and the lows were low.
Even in the face of extraordinary adversity, never once has the Pythian community wavered from its core mission. Furthermore, the case for transparent, trustless, and decentralized financial systems is stronger than ever. This year, as blockchain technology continues to mature and develop, we expect Pyth to become a major player throughout the broader Web3 ecosystem.
From our whitepaper release almost a year ago to Pyth data now being officially available on 6 different blockchains powered, the Pythians have been heads down and building.
A Glance at #PoweredByPyth Apps for 2023
We hope you enjoyed the holiday season. We've compiled the 2023 roadmaps of many #PoweredByPyth projects to get a sense of what we can look forward to!
Spoiler: From Aptos to Aurora, Solana to BNB Chain, Ethereum to Optimism—there’s a lot.
Synthetix is now #PoweredByPyth on Optimism
Synthetix, one of the leading spearheads of DeFi, has recently deployed its second generation of Perpetual Futures on Optimism (the Ethereum layer-2).
Synthetix Perps V2 are #PoweredByPyth. By leveraging Pyth’s new Oracle Pull Model, Synthetix can provide a trading experience on par with centralized exchanges. Benefits like 5-10bp trading fees, increased capital efficiency, and unparalleled scalability are now available to everyone on Kwenta or Decentrex—two of the well-known user interfaces enabling trading on Synthetix.
What’s Happening on the Publisher Side?
Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Available in over 160 countries and more than 16 languages supported, Bybit continues to provide robust security frameworks with 99.99% functionality for its customers.
“We are excited to partner with Pyth and provide the blockchain community with the accurate, transparent data it needs to develop the next generation of financial products,” said Bill Xing, Head of Financial Products at Bybit. “Bybit is committed to democratizing financial markets by making available market data that was previously only accessible to a limited set of institutions and users. This partnership marks an important contribution towards a more equitable and transparent future for financial services.”
MojitoSwap is an AMM that allows two tokens to be exchanged on the KuCoin Community Chain. MojitoSwap currently gathers $40M in total value locked (or liquidity) and has processed over $1.2B in trading volume since inception.
“As the leading DEX and financial infrastructure on KCC, MojitoSwap is glad to collaborate with Pyth to provide a better experience to users on the infrastructure end,” said Iris of MojitoSwap.
“MojitoSwap is a leading venue for Decentralised trading built for speed and low costs,” Abhimanyu Bansal, a contributor for Pyth Network. “Their contribution in the form of real-time on-chain data will enable Pyth to scale further and support more crypto assets on the network.
See the full list of publishers here as well as the application for those looking to join!
We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.