back29 Sep 20232 min read
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A New Milestone in Price Updates with C3.io’s Successful Testnet | Consumer Spotlight

Today, we would like to celebrate a significant milestone for both the Pyth Network and C3.io, a hybrid self-custodial exchange focused on UX with the benefits of DEX.

C3.io has requested over 5.0 million Pyth Price Feed oracles-based transactions today, marking an accomplishment for high throughput DeFi.

Since the beginning, the Pyth Network has set out to bring all the world’s financial market data on-chain to empower smart contacts with data of unparalleled quality and accessibility. The C3.io testnet utilizes Pyth’s high-fidelity price feeds across multiple chains. C3.io offers 5 tokens at the moment, with more assets and unique trading pairs to come.

The platform has onboarded more than 30K users after launching its invitation-based testnet earlier this month, and we’re honored to have helped make this possible.

Let’s take a closer look at how these collaborative achievements are possible:

Features of a Hybrid DEX

C3’s On-Chain Architecture

At its core, C3.io's architecture utilizes two pivotal smart contracts on the Algorand blockchain: the Cross-collateral Clearing Engine and the Health Calculator. Together, they ensure smooth settlements and risk assessment.

Cross-collateral Clearing Engine

Serving as the backbone of C3.io, this contract oversees funds, trade settlements, withdrawals, and financial operations. The use of cryptographic methods for signature validation is essential to its functioning.

A Lending Pool is embedded within the protocol, catering to margin traders while also offering users an opportunity for yield generation. Interaction with this contract is restricted to the C3.io settlement key from the off-chain domain. Post off-chain activities, the contract processes transactions following user-signed instructions, ensuring legitimacy and account health using the Health Calculator.

Pyth Powering the Health Calculator

The Health Calculator contract embodies C3.io’s on-chain risk assessment. It derives the health of all C3.io accounts by tapping into Pyth Price Feeds to establish the value of assets per account at ultra-low latencies. This integration ensures complete autonomy from off-chain risk computations.

In essence, C3.io mirrors off-chain logic on-chain to guarantee trustless, self-custodial functionalities. Every operation demands a user’s signature for on-chain validation and must be financially sound as determined by the Pyth-powered health calculations.

Currently, C3.io's testnet is invite-only. For more updates, you can join their Discord, Telegram, and follow them on X.


We can’t wait to hear what you think! Feel free to join the Pyth Discord and Telegram, follow Pyth on X, 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.

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