back13 Jun 20243 min read
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GMCI 30 Index Launches on Pyth Network

The Pyth Network continues to make the world’s financial data accessible to smart contract developers everywhere. In this spirit, the oracle network has launched the GMCI 30 Index Price Feed to provide exposure to the GMCI crypto market price index (or “GM 30”) to more than 60 blockchain ecosystems.

Integration with the GMCI 30 feed, along with any of Pyth's 540+ price feeds, is permissionless. DeFi applications can base their operations on the real-time price of the GM 30. This blog explores the design of the GM 30 and Pyth expands exposure to this index to multiple blockchains.

What is the GMCI 30 Index

GMCI is an index provider specializing in unique indices for the digital assets space. Cryptocurrency market indices with transparent methodologies are important for onboarding investors, financial institutions, and market analysts to the Web3 capital markets. Indices also provide standardization to these newer markets, which paves the way for more sophisticated digital assets solutions.

This year, GMCI launched their flagship GMCI 30 Index or GM 30, an index which tracks the performance of the 30 largest digital assets according to market capitalization. This index offers a global snapshot of the cryptocurrency markets, capturing major drivers such as Bitcoin and Ethereum, as well as long-term industry leaders. An index like GM 30 can help market participants easily track the performance of the leading cryptocurrencies, as well as evaluate the industry’s stability, sentiment, and growth trends.

"We are excited to announce that Pyth Network will be streaming GMCI index prices. This collaboration represents a significant step forward in our mission to become the benchmark of choice in the crypto space. By leveraging Pyth's cutting-edge technology, we are ensured of providing even more accurate and reliable data to our users. This partnership underscores our commitment to innovation and excellence in the market.” — Maarten Botman, CEO of GMCI

“I believe sector indices are inevitable and crucial for the future of DeFi. The GMCI 30 Index on Pyth Network is a significant step in that direction, as this launch makes an important crypto index available through protocols across more than 60 blockchains spanning all the major ecosystems.” – Larry Cermak, CEO of The Block

GMCI 30 on Pyth Price Feeds

Thanks to the Pyth Network’s first-party data provider network, Pyth Price Feeds now offer developers permissionless and seamless access to a real-time price feed for the GMCI 30. While Price Feeds also covers major indices for traditional markets like the DJIA (Dow Jones Industrial Average), SPY (SPDR S&P 500 ETF Trust), and QQQ (Invesco QQQ ETF), GMCI 30 is the Pyth Network’s first digital assets index feed.

”As a long-standing data provider on the Pyth Network, WOO X is excited to see the integration of the GMCI 30 index. GMCI is a partner of the WOO Innovation Hub and we will continue to work together with Pyth on new indices that provide value to both traders and consumers of Pyth Price feeds.” — Ben Yorke, Ecosystem VP at WOO

Who’s Using Pyth’s GMCI 30 Feed?

Smart contract developers on more than 60 blockchains from the EVM, Move, Cosmos, Bitcoin ecosystems can tap into a reliable, high-frequency price source for the GMCI 30. DeFi protocols across multiple chains have already started integrating with the Pyth GMCI 30 feed to power their operations and serve users unique exposure.

Bluefin—a decentralized orderbook-based exchange on Sui. Since its launch in 2023, Bluefin has already enabled $25B in trading volume.

D8X Exchange—an institutional-grade perpetual futures DEX on Arbitrum, Polygon zkEVM and X Layer.

Pingu Exchange—a community-driven decentralized perpetual protocol on Arbitrum. Since its launch in February, Pingu has enabled over $2B in volumes.

Vela Exchange—a decentralized exchange with advanced perpetuals trading capabilities, community focused incentives, and scalable infrastructure. Vela is live on Arbitrum and Base and has facilitated $10B in volumes.

Horizon Protocol—a decentralized derivatives trading and liquidity protocol on a mission to unlock access to the real-world economy through synthetic assets.

Get Started

The Pyth Network is designed to bring smart contracts real-time access to high-frequency and high-fidelity financial data.

Explore the developer resources below to get started. If you have any questions, you can reach out in the Pyth Discord.


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