Do They Know It’s Pythmas? (#31)
Do They Know It’s Pythmas? (#31)
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!
The 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 on-chain. Pyth then aggregates this data on-chain and makes it available for on-chain and off-chain apps. Read our wiki and whitepaper.
What’s New in the Pyth Ecosystem?
Earlier in December, the Pyth network welcomed its 100th on-chain integration partner!
We’re proud to support and empower so many #PoweredByPyth applications. As Pyth continues to scale cross-chain, we know this is just beginning as more protocols begin to have access to the power of Pyth.
You can always refer to our docs for more Pyth metrics. Performance measures focusing on Pyth EVM expansion will be available soon!
Pyth: A New Model to the Price Oracle
The Pyth network recently launched its Pythnet Price Feeds, a new, highly accurate, and scalable price oracle.
The Pythnet oracle is designed as a new on-demand price update model which eliminates key cost tradeoffs that limit the performance of prior designs. Pythnet Price Feeds enable frequent price updates — once per second — to thousands of price feeds across an unlimited number of blockchains. This new design will allow Pyth to truly scale, with more data providers publishing into more symbols across more asset classes at a higher frequency.
A thorough empirical analysis of Pythnet Price Feeds demonstrated that the oracle reduces price tracking error by 5–10x over competing oracles. The future is now. Check out our in-depth blog post if you’d like to learn more about this exciting new design.
Pyth Whitepaper Explainer Video
As Christmas arrives, it will soon be conversation time with family about crypto and Web3, for better or worse…
Don’t worry—Pyth has you covered.
Jayant, a contributor to the Pyth network, sits down to explain the Pyth network and its inevitable future in a simple, elegant way. Now’s the time to Pyth-pill your whole family and get them excited for 2023 as well!
Pyth Data is Now Live on KuCoin Community Chain
We’re excited to announce that Pyth data feeds are now available on the KuCoin Community Chain, a public blockchain project initiated and built by KucCoin and KCS’ developer community, and we look forward to further empowering KCC DeFi.
Thanks to the support of Wormhole and many leading contributors from the KCC ecosystem, we’re proud to empower builders across the wider DeFi world. Any programs deployed in KCC can permissionlessly request and directly consume Pyth’s 150+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrencies.
We’re kicking off this launch with some key KCC ecosystem players, including Torches Finance, MojitoSwap, and KuSwap.
“As the leading lending protocol on KCC, Torches is happy to be the first Pyth data user. Following the Pyth launch of KCC, Torches will benefit from a greater price accuracy responsible for key operations like the valuation of assets or liquidations of positions,” said Eric, CMO of Torches. “I am sure we will collaborate more in the future while building the KCC DeFi Ecosystem.”
Solana DeFi Workshop presented by Superteam
Despite recent market turbulence, it’s never been a better time to build the financial infrastructure of tomorrow.
With this in mind, we're excited to host a Solana DeFi workshop and renew our commitment to building the future of financial infrastructure.
Join us and Superteam on Monday, December 19 (at 5 PM UTC) for a full course on what Pyth will do for you. Keep an eye out for more events between Pyth and the Sueprteam community of Web3 operators, developers, and grantees.
Register now!
What’s Happening on the Publisher Side?
We are excited to welcome BitMart, a digital asset trading platform, to the Pyth network. BitMart will contribute its exchange market data to the network, which will further help provide valuable information to the broader DeFi and Web3 ecosystem. BitMart will also explore mechanisms to utilize and consume Pyth data feeds for its customers.
With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, BitMart currently offers 1,000+ trading pairs with one of the lowest trading fees in the industry.
“Despite recent turbulence this industry has faced, we remain committed to core projects that have utility and add value. The Pyth network is exactly that, and BitMart’s commitment to furthering the Pyth mission is a testament to the forward progress of the space,” said Stephen Kaminsky, Special Projects at Jump Crypto and contributor to Pyth.
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.